By: Central News Agency
Taipei, Nov. 5 (CNA) Taiwan’s consumer price index (CPI) for October continued to grow, marking the second consecutive month in which the local CPI made a year-on-year increase, according to government statistics released Thursday.
The CPI rose 0.31 percent from a year earlier, largely on the back of higher food prices, while weakness in fuel prices offset the impact of more expensive food on the index, the Directorate General of Budget, Accounting and Statistics (DGBAS) said. On a month-on-month basis, Taiwan’s CPI rose 0.09 percent in October, the DGBAS data indicates.
The data shows that after seasonal adjustments, the October figure gained 0.25 percent from a month earlier. Citing statistics compiled by the DGBAS, Tsai Yu-tai, deputy director of the agency’s census department, said that local consumer prices have shown signs of recovering stability.
Last month, food prices rose 5.10 percent from a year earlier, with prices of vegetables, fruit, frozen food, fishery items and meat up 25.08 percent, 13.01 percent, 5.40 percent, 2.14 percent, and 1.02 percent, respectively. Dining out costs also grew 1.78 percent from a year earlier. However, transportation and communications expenses fell 5.15 percent year-on-year in October after fuel costs plunged 23.34 percent from a year earlier, dragging down the overall CPI by 0.79 percentage points. [FULL STORY]