Fri, Jul 06, 2007 - Page 12 News List

CPI rises on higher fuel, medical costs

AFP AND BLOOMBERG , TAIPEI

The consumer price index (CPI) rose 0.1 percent year-on-year last month largely because of increases in fuel and medicine prices, the Directorate General of Budget, Accounting and Statistics (DGBAS) said yesterday.

The CPI last month was up a seasonally adjusted 0.13 percent month-on-month at 105.25, DGBAS said.

The figures compared with May's 0.03 percent year-on-year decline and a seasonally adjusted 0.06 percent month-on-month rise.

Last month's core price index, which excludes prices of fresh fruits and vegetables, fishery products and energy, was up 0.92 percent from a year earlier and down 0.05 percent from May.

The wholesale price index last month rose 5.54 percent year-on-year, but was down a seasonally adjusted 0.45 percent month-on-month.

For the first half of this year, the CPI was up 0.61 percent, the core index up 0.71 percent and the WPI up 7.11 percent from the same period last year.

Inflation may accelerate in the second half of the year, according to estimates from the government, as economic growth gathers pace and a decline in the nation's currency drives up the cost of imported goods. Import prices rose 7.2 percent last month from a year earlier, the DGBAS report showed.

Inflation is expected to quicken to 1.9 percent in the third quarter and 2 percent in the last quarter, the statistics agency said.

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