January CPI rises 3.04%

09 February, 2023

By ECCT staff writers, DGBAS

Taiwan’s official CPI in January 2023 increased by 3.04% year-on-year. According to a news release from the Directorate General of Budget Accounting and Statistics, this was mainly because the Lunar New Year holidays of 2023 were earlier than 2022 and the prices for holiday grocery items and some service charges increased before or between the Lunar New Year holidays in January 2023. In addition, the indices for vegetables and eggs increased 28.25% and 15.74%, respectively. Moreover, the indices for entertainment expenses, fish and seafood, meats, food away from home, household appliances, as well as vehicles rose 8.50%, 5.92%, 5.72%, 4.33%, 3.34%, and 2.22%, respectively. However, the indices for communication equipment and fruits fell 8.82% and 4.01%, offsetting part of the increase. The core CPI increased by 2.98%. 

According to the news release, the Producer Price Index (PPI) increased by 5.61% in January 2023 compared with the same month of 2022, mainly because the indices for water, electricity and gas supply as well as petroleum and coal products rose 25.39% and 12.94%, respectively. Moreover, the index for electronic parts and components rose 11.28%. However, the indices for chemical material, other chemical products and pharmaceuticals as well as basic metals fell 6.19% and 5.35%, partly offsetting the overall size of the increase.

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