Taipei: Taiwan's consumer price index (CPI) rose 1.23 percent from a year earlier in November, marking the seventh consecutive month for the index's growth to stay below a 2 percent alert set by the central bank, government statistics showed.
According to Focus Taiwan, data compiled by the Directorate General of Budget, Accounting and Statistics (DGBAS) indicated that the local CPI's growth in November was the smallest increase since March 2021, when it stood at 1.22 percent. The DGBAS noted that Taiwan's inflation remained stable, judging from the latest CPI data.
On a month-on-month basis, the CPI fell 0.14 percent, while after seasonal adjustments, the index rose 0.09 percent. The core CPI, which excludes fruits, vegetables, and energy, rose 1.72 percent from a year earlier in November, also remaining below the 2 percent alert.
In the first 11 months of this year, the CPI rose 1.69 percent year on year, with the core CPI rising 1.64 percent, according to the DGBAS. The CPI growth in November was largely influenced by increases in dining-out expenses, higher pork and egg prices, rising rents, and increased spending on transportation equipment maintenance.
However, the overall CPI growth in November was offset by a decline in fruit and vegetable prices due to a higher comparison base a year earlier and a reduction in commodity taxes for cars and motorcycles. Food prices rose 1.48 percent from a year earlier, with egg and pork prices up 12.72 percent and 5.25 percent, respectively, and dining out expenses increasing by 3.51 percent. Meanwhile, transportation and communications spending fell 1.15 percent.
The cost of a basket of 17 government-monitored household necessities rose 2.76 percent, marking the sixth consecutive month that the growth expanded from the previous month. In contrast, the producer price index (PPI) fell 2.80 percent from a year earlier in November, due largely to declines in the prices of agricultural products, chemical materials, drugs, oil, coal, base metals, and electronics components.
During the January-November period, the PPI fell 1.79 percent year-on-year. In late November, the DGBAS forecast that Taiwan's CPI will grow 1.67 percent in 2025.