TAIPEI (Taiwan News) – The consumer price index rose to 2.66% in January, its highest level in 11 months, due to the Lunar New Year holidays, the government said Friday.

The period, which in different years falls either in January or February, is usually marked by higher prices for food and certain services. If vegetables, fruit, and energy were left out, inflation in January stood at 2.26%, according to the Directorate General of Budget, Accounting and Statistics.

Elements contributing to the January rise included taxi fares, the cost of travel and hotel stays, rents, vegetables, fruit, meat, the cost of eating out, the Liberty Times reported. The increases were partly offset by eggs and transportation costs falling.

Out of 368 products and services under review, 168 became more expensive, but 159 saw prices decline. Because of surging demand ahead of the Lunar New Year, vegetable prices rose 20.3%, but eggs became 19.87% cheaper because supply exceeded demand.

The CPI measures inflation, the average change in prices over time, or the cost of living for consumers.