October CPI -0.24%

By ECCT staff writers

Taiwan’s official consumer price index (CPI) fell 0.24% in October, compared with the same month of 2019. According to an official report by the Directorate General of Budget Accounting and Statistics (DGBAS), the decline was mainly because the price of fuels and lubricants fell 15.96% on the back of falling international oil prices. Prices of fruits, as well as water, electricity and gas also fell 8.79% and 4.04%, respectively. Moreover, the price of entertainment expenses fell 2.17% as hotel charges dropped. However, the price of transportation fees rose 5.67% due to the increase in airfares, and the price of personal effects rose 4.09% owing to the increase in the prices of precious metals ornaments and jewellery, offsetting part of the decrease. The core CPI increased 0.53%.