CPI rises 1.26% in March
By ECCT staff writers
Taiwan’s consumer price index rose 1.26% in March 2021, compared with the same month of 2020. The Directorate General of Budget, Accounting and Statistics (DGBAS) attributed the rise mainly to an increase in fuels and lubricants which led to a rise in the index for transportation fees (+11.68%) due to the increase in airfares. Meanwhile, the overall price of food rose 0.52% as the price of cereals rose 1.81%, meat by 2.98%, and eggs by 3.16%. However, the index for fruits fell 4.55%, partly offsetting the increase.
For the first quarter of 2021, the CPI increased 0.82% over the same period of previous year. Indices for commodity and service moved up 0.56% and 1.04%, respectively.
Taiwan is not alone in experiencing rising food prices. According to the UN Food and Agriculture Organization (FAO), global food prices rose for a 10th consecutive month last month, hitting their highest level since June 2014, led by increases in the price of vegetable oils, meat and dairy.