News
CPI rises 3.39% in May
By ECCT staff writers, DGBAS
Inflation in Taiwan is rising faster than previously. According to a news release from the Directorate General of Budget Accounting and Statistics (DGBAS), the official Consumer Price Index (CPI) in May 2022 increased by 3.39% compared with the same month of 2021.
The DGBAS attributed this mainly to the index for fuels and lubricants, which rose 12.62% as the crude oil prices went up. The index for vegetables also rose 22.12% due to the bad weather and a relatively lower comparison base. The indices for fruits and meats rose by 16.55% and 7.88%. Moreover, indices for food away from home, as well as residential rent rose 5.80% and 1.54%, respectively. The core CPI increased 2.60%.
For the first five months of 2022, the CPI increased 3.04% over the same period of previous year. The index for commodity and service moved up 4.15% and 2.09%, respectively. The core CPI increased 2.33%.
The same news release also reported that the Producer Price Index (PPI) in May 2022, rose by 14.0% compared with the same month of 2021. Indices for petroleum and coal products, fabricated metal products, basic metals, as well as electronic parts and components rose by 53.89%, 21.43%, 16.96%, and 11.96%, respectively. Moreover, the index for chemical material, other chemical products and pharmaceuticals rose 12.14%. For the first five months of 2022, the PPI increased 12.30% over the same period of the previous year.
