Consumer prices rose 2.37 percent last month from a year ago as food and energy costs increased after Typhoon Haitang hit on July 18, the Directorate General of Budget, Accounting and Statistics (DGBAS) said yesterday in a statement.
The consumer price index (CPI), a measurement of inflation, was up 1.13 percent from June to 104.52 points. After seasonal adjustment, the index rose 0.2 percent from last month. For the first seven months through last month, the index rose 1.92 percent from a year ago, the DGBAS said.
The statistics bureau attributed the rise in the CPI to higher vegetable and fruit prices as supplies dwindled as a result of typhoon damage. Average vegetable prices increased by 23.74 percent last month, while fruit prices grew by 20.5 percent. Overall, food costs increased 5.36 percent last month from the previous month and rose 7.71 percent from a year earlier.
Excluding food and energy items, core consumer prices edged up 0.51 percent from the same period of last year, the statement said.
The nation's central bank, which has been monitoring the movement of the CPI and adapting its monetary policy accordingly, said inflation may exceed the official forecast of 1.7 percent this year.
The wholesale price index, which gauges production cost, fell 1.61 percent from a year earlier last month, but rose 0.2 percent from June. In the January-July period, the index rose 0.97 percent year-on-year, the DGBAS said.
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