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Taiwan's CPI picks up in October

Xinhua, November 8, 2016 Adjust font size:

Taiwan's consumer price inflation accelerated in October, driven by higher fruit and vegetable prices due to bad weather, official data showed on Tuesday.

The Consumer Price Index (CPI), a main gauge of inflation, rose by 1.7 percent in October from a year ago. That is compared to growth of 0.33 percent recorded in September, according to the island's Directorate General of Budget, Accounting and Statistics.

Food prices climbed by 5.2 percent from a year earlier as typhoons and heavy rain dampened farm produce output. Vegetable prices surged 24 percent while fruit prices jumped 7.8 percent.

Compared with a month ago, CPI rose 1.45 percent.

The core CPI, which excludes vegetables, fruit and energy, rose by 0.96 percent in October year-on-year, the DGBAS said.

The Wholesale Price Index (WPI), a gauge of production costs, dropped by 1.88 percent in October from a year earlier. That is narrowed from a fall of 3.79 percent in September.

Taiwan's economy has just emerged from a recession and grew at an annual rate of 2.06 percent in the third quarter. Analysts expected inflation will ease as typhoon season ends. Endi