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Taiwan inflation rises on surging food prices

Xinhua, March 8, 2016 Adjust font size:

Taiwan's consumer price index (CPI) rose at its fastest pace in three years in February, the island's statistics agency said on Tuesday.

The 2.4 percent year on year rise was mainly due to higher prices for vegetables, fruits, aquatic products and household electricity, the agency said.

The authority said vegetable supply was limited by a cold front that hit Taiwan in January, and meanwhile food demand was higher around the Chinese Lunar New Year holidays.

In the first two months, the CPI rose 1.6 percent year on year.

The wholesale price index declined by 4.93 percent year on year last month, mainly due to the price of metal, crude oil, coal and chemical products falling, the agency said. Endi