TAIPEI (Taiwan News) — Prices for goods rose in May, driven by higher fuel and transport costs following a surge in international oil prices linked to the Iran War.
The Directorate-General of Budget, Accounting and Statistics said Friday the consumer price index rose 2.2% year-over-year in May, per CNA. This marked a sharp increase from April's 1.74%, with fuel costs jumping 20.09% from a year earlier.
Transportation and communications recorded the largest increase among the seven main CPI categories, rising 4% from a year earlier. Higher fuel prices, train fares, and airline tickets all contributed to the increase.
Core CPI, which excludes fruit, vegetables, and energy, rose 2.12% year-over-year, accelerating from April's 1.90%, CNA reported. Meanwhile, the CPI for key household necessities rose 1.5% in May, also marking a larger increase than in the previous month.
