July CPI up 1.88%

By ECCT staff writers, DGBAS

Taiwan’s Consumer Price Index (CPI) rose by 1.88% in July 2023, compared with the same month of 2022. According to the official news release of the monthly report by the Directorate General of Budget Accounting and Statistics (DBGAS), the rise was mainly attributed to the index for services for entertainment, which rose by 9.06% due to an increase in demand. Moreover, the indices for services for nursery and nursing care, meats, food away from home, medical care services as well as residential rent also rose 6.50%, 5.42%, 4.45%, 2.83% and 1.99%, respectively. However, the indices for fruits, vegetables as well as fuels and lubricants fell 22.08%, 1.88% and 1.10%, offsetting part of the increase. The core CPI increased 2.73%. For the first seven months of 2023, the CPI increased 2.26% over the same period of 2022. The indices for commodity and service moved up 1.61% and 2.88%, respectively. The core CPI increased 2.66%, according to the report.