CPI rises in September after months of decline
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.
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
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.
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.