July CPI rises slightly month on month

Taipei,  Taiwan’s consumer price index (CPI) in July grew 0.14 percent from June, due mainly to a rise in gasoline and plane ticket prices, the Directorate-General of Budget, Accounting and Statistics (DGBAS) reported on Thursday.

After seasonal adjustments, the CPI increased 0.17 percent month on month, but decreased 0.52 percent from the same month last year, which marked a sixth consecutive contraction year on year, thanks to a fall in vegetables, cloth, and hotel prices, the agency said.

The wholesale price index (WPI), meanwhile, climbed 0.62 percent from a month earlier and added 0.51 percent after seasonal adjustments, which marked a slide of 9.15 percent from the same month in 2019, it said.

The agency attributed the 0.14 percent growth in July CPI to a rise in fuel and airplane ticket prices, but said it was offset to some extent by the fall in the cost of vegetables and clothing.

Transportation and communications costs last month rose 1.61 percent from June, fueled by a 4.97-percent higher international crude oil price and airplane ticket costs that soared 9.33 percent, DGBAS data showed.

Education and entertainment costs picked up 0.55 percent from June, due to an ease in the COVID-19 pandemic domestically and the start of the summer break, with domestic travel and hotel fees rising 2.6 percent and 1.33 percent, respectively, the same tallies indicated.

Spending on clothes dropped by 1.96 percent, while food costs edged down 0.21 percent, thanks to a recovering supply of vegetables that caused prices to fall 5.23 percent.

July’s core CPI excluding energy and food prices rose 0.14 percent, indicating stable consumer prices, DGBAS officials said.

 

Source: Focus Taiwan News Channel

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