August CPI Rises as Food Prices Soar

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copyright Ken Teegardin, www.SeniorLiving.Org

The Directorate-General of Budget, Accounting & Statistics released Taiwan’s consumer price index (CPI) for August. The CPI for the month was 104.99, down 0.03% from July but up 0.57% from the previous year.

The slight decline from July was attributed to a discounts on clothing and a drop in fuel prices, which fell  2.86% and 2.67% respectively. The increase from August 2015 was caused by a significant increase in the price of food, which was due to adverse weather conditions. The price of fruit and vegetables rose 3.84% and 3.38%, while the cost of eggs also rose 3.94%. Consumer electronics prices were also slightly lower than a year ago.

Residential CPI fell 0.80%, mainly caused by the price of gas and electricity declining 15.68% and 11.68%. Those price declines were slightly offset by an increase in the water and rent prices.

The CPI is forecast to rise again in September because of the Mid-Autumn Festival.

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