Consumer prices up 1.17% in October

2018/11/06 18:46:13 fontsize-small fontsize-default fontsize-big
Consumer prices up 1.17% in October

Taipei, Nov. 6 (CNA) Taiwan's consumer prices rose 1.17 percent from a year earlier in October, largely in the wake of higher tobacco and fuel prices, while more expensive eggs, fruit and dairy items also contributed to the growth, government statistics showed Tuesday.

According to the Directorate General of Budget, Accounting and Statistics (DGBAS), the October consumer price index (CPI) also rose 0.08 percent from a month earlier, but after seasonal adjustments, the CPI fell 0.16 percent.

The year-on-year CPI growth for October moderated from September's 1.72 percent increase as the effects of a hike in the tobacco tax that took effect in June 2016 were fading, the DGBAS said.

The core CPI, which excludes fruit, vegetables and energy, rose 0.72 percent from a year earlier in October, indicating that consumer prices in Taiwan remained stable, the DGBAS added.

In the first 10 months of the year, the CPI rose 1.60 percent from a year earlier, while the core CPI was up 1.33 percent, the DGBAS said.

In October, the prices of miscellaneous items such as tobacco gained 2.93 percent, serving as one of the main categories pushing up the CPI. Tobacco prices were up 15.03 percent in October from a year earlier, compared with a 26.83 percent rise in September, the data indicates.

Transportation and communications expenses rose 2.46 percent from a year earlier in October as fuel prices moved up by 18.61 percent year-on-year, but mobile communication expenses tickets were down 5.96 percent, according to the DGBAS.

It said that food prices rose 1.49 percent from a year earlier in October, with egg prices soaring 29.49 percent on a relatively low comparison base over the same period of last year, when egg prices plunged amid fears that eggs had been contaminated by the insecticide fipronil.

Prices of fruit and dairy items rose 5.74 percent and 2.64 percent, respectively, and dining out expenses also grew 1.95 percent from a year earlier in October, while vegetable prices fell 5.43 percent, offsetting the entire food price increase to some extent, the DGBAS added.

The cost of a basket of 17 government-monitored household necessities, including rice, pork, bread, eggs, sugar, cooking oil, shampoo and toilet paper, rose 3.11 percent in October from a year earlier, down from a 4.09 percent increase in September.

The wholesale price index (WPI) rose 5.95 percent in October from a year earlier, reflecting increases in the prices of oil, coal, chemical goods and drugs, the DGBAS said.

It said the import price index climbed 9.77 percent in October from a year earlier in Taiwan dollar terms and 7.50 percent in U.S. dollar terms, while the export price index gained 3.43 percent in Taiwan dollar terms and 1.30 percent in U.S. dollar terms.

The WPI was up 4.01 percent year-on-year in the first 10 months of the year, the DGBAS data shows.

(By Pan Tzu-yu and Frances Huang)
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