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March CPI records 1.27% year-on-year growth

March CPI records  1.27% year-on-year growth

Taipei, April 6 (CNA) The consumer price index (CPI) grew 1.27 percent in March from a year earlier, according to statistics released Tuesday by the Directorate General of Budget, Accounting and Statistics (DGBAS).
The DGBAS attributed the rise of the CPI that month to higher prices of fuel, tobacco and vegetables, with discounts offered for consumer electronic products offsetting the increase to some extent.
Consumer prices will rise modestly while the economy recovers, although inflation should not be a concern for the time being, DGBAS officials said.
According to the DGBAS tallies, the CPI in March stood at 104.26, down 0.95 percent from the month-earlier level.
The monthly decrease was due to lower service prices after the Lunar New Year and seasonal discounts offered by clothing retailers, the DGBAS said.
The CPI's year-on-year growth averaged 1.29 percent in the first quarter.
Wu Chao-ming, head of the DGBAS' Third Bureau, said, however, that as the employment market is still in critical condition and average salaries have not increased, private consumption has not fully recovered to push up consumer prices.
The unemployment rate in February rose slightly to 5.76 percent, with the jobless population recorded at 634,000, an increase of 8,000 from January.
(By Hsieh Chun-wei and Fanny Liu)

Updated : 2021-08-03 22:47 GMT+08:00