The consumer price index (CPI) last month rose 2.36 percent, slowing from 2.53 percent in July, as the impact of Typhoon Gaemi drove up vegetable and fruit prices, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.
It is the fourth straight month that the headline inflation has gone above the central bank’s 2 percent target, suggesting continued price pressures though the growth has lost momentum, DGBAS official Tsao Chih-hung (曹志弘) said.
“The CPI would likely display a flattened trajectory this month as the vegetable output is recovering quite smoothly,” Tsao said.
Photo: CNA
Headline CPI inched up by 0.4 percent from a month earlier which indicated a 0.07 percent rise after seasonal adjustments, the agency said.
Core CPI, a more reliable long-term price tracker excluding volatile items, increased by 1.8 percent last month, remaining under 2 percent for five straight months and affirming a stable price trend, it said.
Food costs, the largest chunk of the CPI weighting, rose 4.64 percent from a year earlier, as fruit and vegetable prices surged 24.16 and 11.92 percent respectively due to supply disruptions, Tsao said.
At the same time, dining costs rose 2.9 percent, but have stayed below 3 percent since April, indicating inflationary pressures are easing, he said.
Medicine and healthcare prices, a main inflation driver this year, rose by 3.18 percent as hospitals and clinics raised registration, treatment and drug charges to accommodate higher personnel and operating costs, the agency said.
Rent costs rose 2.27 percent as summer electricity and home repair costs increased and landlords raised rents, while miscellaneous items increased 1.95 percent mainly because jewelry and personal accessory prices rose in line with international gold prices, it said.
Education and entertainment prices increased 1.79 percent, as travel agencies raised prices for overseas tours, while domestic recreational facilities charged higher admission fees, it said.
The producer price index (PPI), which measures the price movements of goods from a seller’s perspective, increased 1.44 percent, down from a revised 3.66 percent uptick in July, the agency said.
The price movements came after raw materials became more expensive, while international fuel prices softened, it said.
The CPI climbed by an average of 2.32 percent in the first eight months of the year while the PPI rose 1.67 percent, it said.
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