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Taiwan's CPI rises in November for 3rd straight month

Taiwan's CPI rises in November for 3rd straight month

Taipei, Dec. 8 (CNA) Taiwan's consumer price index (CPI) rose year-on-year in November for the third consecutive month, according to government statistics released Tuesday.

The November CPI increased 0.53 percent from a year earlier, largely on the back of higher food prices, which were offset to some extent by declining fuel, electricity and consumer electronics prices, the data from the Directorate General of Budget, Accounting and Statistics (DGBAS) showed.

However, the CPI dropped 0.69 percent month-on-month in November, according to the DGBAS data.

Food prices rose 5.23 percent year-on-year, with vegetable and fruit prices showing the biggest increases of 30.15 percent, and 11.81 percent, respectively, which contributed to a 1.03 percentage point gain in the overall index for November.

Meanwhile, transportation and communications costs fell 4.85 percent in November from a year earlier on a 22.55 percent year-on-year drop in fuel prices, dragging down the overall CPI by 0.73 percentage points. It was the 12th consecutive month that fuel prices fell more than 20 percent year-on-year.

Taiwan's core CPI, which excludes vegetables, fruit and energy, rose 0.86 percent in November from a year earlier.

The wholesale price index (WPI) for November fell 7.75 percent from a year earlier, dropping for the 15th consecutive month, in reflection of declining prices of chemical materials, oil, coal and base metal, and electricity.

The November import price index in Taiwan dollar terms fell 10.18 percent from a year earlier, while the export price index dropped 4.21 percent year-on-year, the DGBAS data showed.

Based on the latest CPI data, the DGBAS said, a household with monthly expenses of about NT$60,000 (US$1,822) spent an additional NT$318 in November compared with the same month last year.

Taiwan's CPI fell 0.35 percent year-on-year in the first 11 months of this year, the DGBAS data showed. (By Chen Cheng-wei and Evelyn Kao)

Updated : 2021-09-29 00:22 GMT+08:00