News
Inflation eases to 2.66% in August
By ECCT staff writers, DGBAS
Taiwan’s Consumer Price Index (CPI) rose by 2.66% in August 2022, compared with the same month in 2021. According to a news release from the Directorate General of Budget Accounting and Statistics, the increase was mainly attributed to the index for fruit, which rose 15.04%. Moreover, the index for eggs rose 33.29%. The indices for food away from home, meats, fuels and lubricants, household appliances, as well as residential rent rose 6.64%, 5.77%, 5.59%, 3.36%, and 2.05%, respectively. However, the index for vegetables and communication equipment respectively fell 19.07% and 6.63%, offsetting part of the increase. The core CPI increased 2.73%. For the first eight months of 2022, the CPI increased 3.10% over the same period of 2021. The indices for commodity and service moved up 4.06% and 2.27%, respectively. The core CPI increased 2.49%.
In related news, the Council of Agriculture says the average transaction price of vegetables on Tuesday per kilogram was down 10% from the previous day. The COA reported that harvesting operations were affected by the approach of Typhoon Hinnamnor, although crops were not damaged.
The transaction volume of the Taipei fruit and vegetable wholesale market rebounded yesterday, an increase of 33% from Monday. The price of cabbage was NT$25 per catty, approximately NT$60 for one head of cabbage while other leafy greens cost approximately NT$20 per unit.
