Inflation down on falling oil prices
By ECCT staff writers
Taiwan’s core inflation rate decreased in April, according to an official press release yesterday by the Directorate General of Budget Accounting and Statistics (DGBAS). According to the press release, Taiwan’s Consumer Price Index (CPI) in April 2020 fell 0.97% in April compared with the same month of 2019. The DGBAS attributed the drop mainly to the decrease in the price of fuels and lubricants by 35.50% on the back of the sharp drop in international oil prices.
Prices of vegetables, eggs, communication fees, as well as entertainment expenses also fell 13.63%, 7.32%, 5.80%, and 3.72%, respectively. However, prices of fruits, personal effects, as well as garments rose 14.18%, 3.99%, and 2.45%, respectively, offsetting part of the decrease. The core CPI rose 0.05%. For the first four months of 2020, the CPI increased 0.17% over the same period of the 2019. Prices of commodities and services moved up 0.06% and 0.19%, respectively. The core CPI increased 0.34%.