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Taiwan's CPI drops 0.31 percent in 2015

Xinhua, January 6, 2016 Adjust font size:

Taiwan's consumer price index (CPI) decreased by 0.31 percent throughout the year of 2015, mainly due to declining fuel prices, the island's statistics agency said.

It is the first decrease since 2009. The agency offered reassurance that the CPI remained stable and there was no concern of deflation in a press release published Wednesday.

Prices for fuel and lubricants dropped 25 percent in the year and those of water, electricity and natural gas decreased by 12.47 percent. However, higher food prices, with a year-on-year increase of 3.13 percent, offset the price reduction to some extent.

The price of meat, vegetables, fruit, fish and seafood rose by 3.23 percent, 15.59 percent, 0.84 percent and 2.27 percent respectively, according to the press release. And the cost of dining out increased by 2.25 percent.

Judging by the recent economic performance and private sector demand and consumption, there are no major forces likely to drive price hikes this year, the agency said.

The CPI is expected to rise 0.84 percent in 2016, it said in an earlier statement in November. Endi