Typhoons Contribute to Taiwan’s CPI Increase in November.

Taipei: Taiwan's consumer price index (CPI) saw a 2.08 percent increase in November compared to the previous year, primarily driven by a rise in vegetable prices following several typhoons, as reported by the Directorate General of Budget, Accounting and Statistics (DGBAS) on Thursday. This CPI growth, which surpassed the 2 percent alert level set by the local central bank, represents the highest year-on-year increase in nearly two years. According to Focus Taiwan, the core CPI, excluding fruit, vegetables, and energy, rose by 1.74 percent from the previous year, as per DGBAS data. Agricultural losses due to the typhoons led to a 19.43 percent increase in vegetable prices, explained DGBAS specialist Tsao Chih-hung. The combined price increase of fruit and vegetables contributed 0.52 percentage points to the November CPI, Tsao noted. November also witnessed a 3.06 percent increase in dining-out costs compared to the previous year, marking the highest rise in eight months. Despite this, Tsao highlighted that the increase was not significantly higher than the 2.96 percent and 2.98 percent observed in the two preceding months. Conversely, the cost of a basket of 17 government-monitored household necessities, such as rice, pork, and toilet paper, experienced a slight decline of 0.2 percent from a year earlier in November. The core CPI remained below the 2 percent alert, indicating relative stability in the overall cost of goods in Taiwan. In November, prices for medical care, education, housing rent, and vehicle parts and maintenance rose by 4.46 percent, 2.87 percent, 2.66 percent, and 2.58 percent, respectively. Although the rent index for November reached its highest level in 28 years, Tsao pointed out that its annual growth rate has consistently been above 2 percent since July 2022, influenced by rising housing prices and interest rates. The November rent figure did not show a significant jump from October, which saw a 2.53 percent increase from the previous year.