Taiwan's CPI rises on surging food prices

Taiwan's consumer price index rose 1.97 percent year on year in November, mainly due to food prices rising at the fastest pace in eight years, the island's statistics agency said Tuesday.

The index has set a record new high in the past eight months, which could have a major impact on low-income households, the agency said.

The agency said vegetable prices soared 37.53 percent last month due to typhoons and continuous rainfall, while fruit prices rose 9.56 percent due to bad weather.

The agency also noted that food prices rose by 5.31 percent from January to November, with prices of fruit going up by 19.19 percent in the same period, the highest such increase in 24 years. Endi