TAIPEI (Taiwan News) — The Directorate-General of Budget, Accounting and Statistics said Tuesday that Taiwan’s consumer price index increased by 2.18% last year.
Taiwan's CPI surpassed 2% for the third consecutive year. The DGBAS said that prices are expected to stabilize, with this year's CPI forecast to drop below 2%, per CNA.
The DGBAS said that rising food prices, taxi fares, and entertainment costs may lead to an increase in January’s CPI due to the Lunar New Year, per Yahoo News.
The agency said that food prices increased by 4.05% in December. It said that vegetable prices rose by 30.69% last month, marking the largest increase in 40 months due to typhoons and heavy rainfall.
Tsao Chih-hung (曹志弘), a DGBAS official, said that rents rose by 2.61% in December, reaching the second-highest increase in 28.5 years. He said lower egg, gasoline, and airfare prices have helped offset rising living costs.
The agency said the CPI for elderly households in Taiwan rose 2.37% last year, outpacing the 2.18% increase for all households. Higher housing, food, and healthcare costs were key contributors.
The producer price index (PPI) increased by 1.35% last year. Rising prices for electronic components, chemicals, and higher electricity rates increased production costs.
The agency added Taiwan's CPI rose 2.1% in December, surpassing South Korea's 1.9% and Singapore's 1.6%. However, it was lower than the US's 2.7% and Japan's 2.9%.
