Taiwan’s consumer inflation continues to ease in October

Taiwan’s consumer inflation continued to ease in October, as fruit and vegetable prices declined amid adequate supplies.

According to figures released on Monday by Taiwan’s statistics authorities, the island’s Consumer Price Index (CPI), a major gauge of inflation, stood at 110.34 in October, registering a year-on-year increase of 2.36 percent, lower than the 2.96 percent recorded in September.

The island’s CPI peaked in August, increasing 3.43 percent over the same period last year, as food costs rose sharply amid disrupted supplies of fruits and vegetables during the typhoon season. It fell back in both September and October.

Compared with September, Taiwan’s CPI decreased by 0.05 percent in October, but rose by 0.32 percent after seasonal adjustments.

The core CPI, which excludes the volatile prices of fruits, vegetables, marine and energy products, rose by 0.95 percent in October over the same period last year.

In the first ten months of this year, Taiwan’s CPI rose by 2.00 percent over the same period last year.

Meanwhile, the WPI, which tracks movements in wholesale prices and serves as another barometer of inflation, stood at 109.80 in October, declining by 3.64 percent from the same period last year.

Compared with September, the WPI decreased by 1.36 percent, or 0.64 percent after seasonal adjustment.

By October this year, Taiwan’s WPI had registered a year-on-year decrease of 0.60 percent.

The island’s local statistics authorities attributed the continued easing of consumer inflation to the fact that prices of fruits and vegetables declined as supplies, which were disrupted by typhoons in previous months, had dropped.

Compared with September, food costs fell by 1.45 percent and other costs related to housing, including electricity bills, also slipped by 1.26 percent in October.

However, clothing costs increased by 17.18 percent, as retailers raised the prices of new autumn and winter clothes.

Xinhua