Consumer prices last month climbed for a 10th consecutive month as rising food prices more than offset declines in transportation and telecommunication costs, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.
The 0.39 percent annual increase last month is slightly lower than a revised 0.43 percent rise in September and translated into a 0.35 percent decline after seasonal adjustments, the agency said in a monthly report.
“The figures suggested stable consumer prices, without the specter of deflation,” DGBAS Senior Executive Officer Chiou Shwu-chwen (邱淑純) told a media briefing in Taipei.
Food prices, which have about a 25 percent weighing in the index, increased 1.65 percent after average fruit prices rose 6.63 percent and vegetable prices gained 1.29 percent, the report said.
The rise in food prices would have been steeper, if egg prices had not fallen 16.05 percent, it added.
The category of miscellaneous items rose 1.17 percent, propelled mainly by more expensive gold and jewelry products, it said.
Education and recreation costs rose 0.95 percent due to upward adjustments in group tour fees, it said.
However, transportation and telecommunication prices declined 3.15 percent, oil prices fell 11.22 percent and telecommunications fees dropped 4.94 percent, the report said.
The core consumer price index (CPI), a more reliable long-term inflation tracker because it excludes volatile items, rose 0.66 percent from a year earlier, lending support to benign and stable inflation, the DGBAS said.
The wholesale price index (WPI), a measure of production costs, contracted 6.21 percent annually, deepening from a 4.7 percent decline one month earlier, the agency said.
Softening prices of minerals, chemicals, and oil and base metal products continued to weigh on the gauge, the report said, adding that export prices fell 5.52 percent from a year earlier in US dollar terms, while import prices shrank 6.64 percent.
For the first 10 months of this year, the CPI edged up 0.5 percent from a year earlier, while the WPI weakened 1.82 percent, the DGBAS said.
Just a few years ago, the millennial generation — generally defined as those born from the early 1980s through the mid-1990s — was synonymous with youthful rebellion. However, now, as the millennials ease into early middle age, they are finding their path out of their parents’ basement to be a lot harder than it was for earlier generations. The fundamental problem is that millennials are not building wealth. The wealth of the median US household headed by someone 35 or younger has actually shrunk in inflation-adjusted terms since the mid-2000s, even as the wealth of older Americans has continued to grow. An
‘LITTLE CHOICE’: The airline said it expected only about 8,000 of its 29,000 employees to be working by next month, but hoped to have 21,000 in the next two years Qantas Airways Ltd plans to cut at least 6,000 jobs and keep 15,000 more workers on extended furloughs as Australia’s largest airline tries to survive the coronavirus pandemic. Qantas yesterday announced a plan to reduce costs by billions of dollars and raise fresh capital. The plan includes grounding 100 planes for a year or more and immediately retiring its six remaining Boeing Co 747 planes. Chief executive Alan Joyce said the airline has to become smaller as it braces for several years of much lower revenues. He said the furloughed workers faced a long interruption to their airline careers. “The actions that we’re taking
Apple Inc’s decision to stop using Intel Corp processors in its Mac computers and switching to its own chips might benefit Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and boost Taiwan’s high-tech exports, Australia and New Zealand Banking Group (ANZ) said in a note on Tuesday. The US tech giant announced the “Apple silicon” initiative at its annual Worldwide Developers’ Conference, which started on Monday. The company said the first Mac powered by its own chips would debut by the end of this year and all product lines might shift to the new architecture in the next two years. TSMC is likely to
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price