Consumer prices in Taiwan were 2.04 per cent higher in August than a year earlier, the fourth consecutive month above 2 per cent. Producer prices rose 16.75 per cent over the year. Import prices in dollar terms were 20.45 per cent higher and export prices 23.05 per cent higher. Core consumer prices, excluding fruit, vegetables and energy, rose 2.30 per cent.
Taiwan's consumer price index rose 2.04 per cent in August from a year earlier. The increase eased from 2.52 per cent in July and was the fourth consecutive month above the 2 per cent threshold used by the central bank. On a monthly basis the index fell 0.01 per cent, and after seasonal adjustment it rose 0.13 per cent. For January to August, consumer prices were 1.84 per cent higher than a year earlier.[1], [2]
Producer prices rose much faster. The producer price index increased 16.75 per cent from a year earlier and 1.04 per cent from July, reflecting higher prices for crude oil, coal-related products, computers, electronic devices, optoelectronic products, chemical materials and pharmaceuticals. In dollar terms, import prices were 20.45 per cent higher than a year earlier and 2.66 per cent higher than in July. Export prices were 23.05 per cent higher over the year and 1.28 per cent higher over the month. Averaged over January to August, producer prices were 9.10 per cent higher than in the same period of last year, import prices 12.60 per cent higher and export prices 16.59 per cent higher.[1], [2]
Core consumer prices, which exclude fruit, vegetables and energy, rose 2.30 per cent from a year earlier. Fuel prices climbed 11.86 per cent and airfares 10.75 per cent, lifting transportation and communication by 2.77 per cent. Food prices rose only 0.79 per cent, as vegetable prices fell 21.64 per cent. A basket of 17 monitored household necessities rose 1.82 per cent, down from 1.95 per cent in July. Tsai Hsiu-hui, head of the DGBAS general statistics section, said the government had kept domestic gasoline and diesel prices frozen in August, and that the fuel increase reflected a low comparison base.[2]
