TAIPEI (Taiwan News) — The consumer price index (CPI) for August slipped to 2.66% year-on-year, the lowest in six months, with inflation expected to ease, according to data released Tuesday (Sept. 6).

August ended a five-month streak where the CPI stood above 3%. The main driver of consumer prices last month was food, including meat, eggs, and the cost of eating out, but were partly offset by the drop in vegetable prices, according to the Directorate-General of Budget, Accounting and Statistics (DGBAS).

Consumers may still feel pressure as the index for items purchased at least once a month grew 5.21% in August compared to last year. The items include fruit, vegetables, aquatic products, beverages, and fuel.

The inflation index for the 17 government-monitored essentials rose 5.38%. Among them, egg prices surged 38.87% and cooking oil by 14.88% on an annual basis, the two items that saw the biggest rise, according to CNA.

The statistics agency expects inflation woes to abate based on the estimate that the CPI had peaked in the second quarter and with raw material costs seeing a downward trend globally, said Tsao Chi-hung (曹志弘), a DGBAS official.

Taiwan saw limited crop damage due to Typhoon Hinnamnor and consumer inflation for September should stay below 3% in stable weather conditions, Tsao predicted.