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Consumer price index contracts in April

Consumer price index contracts in April

Taipei, May 5 (CNA) Taiwan's consumer price index in April contracted by 0.45 percent from the same month of last year, the third consecutive month deflation had been recorded, according to areport released Tuesday by the Directorate General of Budget, Accounting and Statistics (DGBAS).
For the first four months of this year, the index was down 0.12 percent from the same period of 2008, the report states.
Wu Chao-ming, a DGBAS section chief, attributed the contraction to sagging consumer demand as a result of the global economic downturn.
The fall in international oil prices and consumer electronics as well as the decline in the public's purchasing power were also partly to blame, Wu said.
Meanwhile, the wholesale price index dropped by 10.99 percent year-on-year in April, the largest fall recorded since April 1975, due mainly to continued weakening in commodity prices, the DGBAS report shows.
Import and export prices calculated in U.S. dollars plunged by 22.33 percent and 15.5 percent year-on-year, respectively, while domestic sales excluding exports were down 13 percent. All figures represent the largest decline on record, the report states.
(By Y.F. Low)




Updated : 2021-08-01 21:31 GMT+08:00