CPI rises in Septem­ber af­ter months of de­cline

The China Post - - TAIWAN BUSINESS -

Tai­wan’s con­sumer price in­dex ( CPI) for Septem­ber rose 0.28 per­cent from a year ear­lier, the first monthly rise this year af­ter fall­ing for eight straight months, the Di­rec­torate Gen­eral of Bud­get, Ac­count­ing and Sta­tis­tics (DGBAS) said Wed­nes­day.

Cit­ing sta­tis­tics com­piled by the DGBAS, Tsai Yu-tai, deputy di­rec­tor of the agency’s cen­sus depart­ment, said the rise in in­fla­tion seen last month re­sulted from a hike in food prices, which were af­fected by two main fac­tors.

Sea­sonal de­mand for food items rose be­cause of the Mid-Au­tumn Fes­ti­val, and Typhoon Soude­lor in early Au­gust and per­sis­tent rain­fall later in the month caused dis­rup­tions to the coun­try’s food sup­ply chain, push­ing the price of agri­cul­tural pro­duce higher in Septem­ber.

Food prices grew 5.85 per­cent in Septem­ber from a year ear­lier, with prices of veg­eta­bles and fruits up 34.07 per­cent and 12.60 per­cent, re­spec­tively.

The prices of frozen foods and meat grew 5.49 per­cent and 2.68 per­cent, re­spec­tively, from a year ago, while din­ing out ex­penses rose 1.79 per­cent, the DGBAS data showed.

Tai­wan’s CPI rose 0.68 per­cent on a month-on-month ba­sis, and was also 0.15 per­cent higher on a sequential ba­sis af­ter sea­sonal ad­just­ments.

De­spite the monthly rise in the CPI, con­sumer prices in Tai­wan were still down 0.52 per­cent dur­ing the first nine months of 2015 com­pared with the same pe­riod a year ear­lier.

Trans­porta­tion, Com­mu­ni­ca­tions

Costs Fell 6.59%

Buck­ing the hikes in food prices, trans­porta­tion costs and com­mu­ni­ca­tions ex­penses fell 6.59 per­cent in Septem­ber from a year ear­lier, which off­set the im­pact of more ex­pen­sive food items, the DGBAS said.

The agency said the fall in trans­porta­tion costs largely re­flected a 27.22 per­cent year-on year plunge in fuel prices that pulled the over- all CPI down by 0.96 per­cent­age points.

It was the 10th con­sec­u­tive month in which fuel prices fell more than 20 per­cent on a yearon-year ba­sis due to fall­ing in­ter­na­tional crude oil prices, the DGBAS said.

Based on the Septem­ber rise in the CPI, the DGBAS said a house­hold with monthly spend­ing of about NT$60,000 ( US$1,829) had to spend an ad­di­tional NT$168 dur­ing the month com­pared with a year ear­lier.

That house­hold had to spend an ad­di­tional NT$ 580 and NT$191 in veg­etable and fruit pur­chases, while sav­ing about NT$ 577 in fuel costs in Septem­ber, the DGBAS added.

Core CPI Rose 0.60% in

Septem­ber y-o-y

The data showed that core CPI, which ex­cludes veg­eta­bles, fruit and energy costs, rose 0.60 per­cent in Septem­ber from a year ear­lier. The DGBAS said the core CPI in­di­cated that Tai­wan’s con­sumer prices were still grow­ing at a sta­ble pace.

In Septem­ber, the whole­sale con­sumer in­dex (WPI) fell 8.57 per­cent from a year ear­lier af­ter the im­port price in­dex fell 12.23 per­cent in New Tai­wan dol­lar terms and the ex­port price in­dex dropped 3.39 per­cent due to weak­en­ing prices of min­eral prod­ucts, base met­als, chem­i­cal prod­ucts, and other in­dus­trial items.

It was the 13th con­sec­u­tive month in which the lo­cal WPI reg­is­tered a year-on-year fall, the DGBAS said.

In the first nine months of the year, Tai­wan’s core CPI rose by 0.80 per­cent, while the WPI fell by 9.12 per­cent, the data also showed.

CNA

A woman points at a chicken in a wet mar­ket in Taipei, yesterday. Tai­wan’s con­sumer price in­dex (CPI) for Septem­ber rose 0.28 per­cent from a year ear­lier, the Di­rec­torate Gen­eral of Bud­get, Ac­count­ing and Sta­tis­tics said.

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