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Taiwan's CPI Growth Hits 18-Month High of 2.07% in August

2014/09/17 | By Judy Li

Taiwan's consumer price index (CPI) surged 2.07% year-on-year in August and the core CPI, excluding prices of fresh food and energy, went up 1.67%, both the highest of their kinds in 18 months, according to Taiwan's  Directorate General of Budget, Accounting & Statistics (DGBAS).

DGBAS attributes such surge in August to the price hikes of foods with annual rise of 5.6%. Among the food items, the price of pork surged 17.25%, a new 6-year monthly high and that of eggs soared 20%. In addition, dining-out expenditures grew 4.54%, the highest of its kind in five and a half years.

Although Taiwan's CPI growth of 2.07% in August was much higher than South Korea's 1.4%, yet in the first eight months Taiwan's CPI growth was only 1.39%.

If September sees no typhoons, the CPI growth is very likely to be lower than 2% for the month. DGBAS predicts the CPI growth in Q3 at 1.8% and that for the full year 1.64%. (JL)