Taipei, Consumer prices rose 0.66 percent from a year earlier in April on the back of an increase in the price of vegetables, eggs, fuel and travel expenses, government statistics showed Tuesday.
However, a decline in the price of fruit, garments and 3C products as well as communications expenses capped the increase in the consumer price index for April, the Directorate General of Budget, Accounting and Statistics (DGBAS) said.
On a month-on-month basis, the DGBAS said the consumer price index (CPI) for April rose 0.75 percent. After seasonal adjustments it was up 0.15 percent.
The year-on-year CPI growth for April was higher than the 0.56 percent increase in March and the highest for the year so far, the DGBAS data showed.
The core CPI, which excludes vegetables, fruit and energy, rose 0.59 percent from a year earlier in April, compared with a 0.45 percent year-on-year increase in March.
DGBAS specialist Hsu Chien-chung told the press that CPI growth in the previous months had been slow, which stirred up worries about possible deflationary pressure he said were unfounded.
Hsu said local consumer prices remain stable, adding that the local economy is expected to benefit from the steady increase in consumer prices.
The DGBAS said food prices rose 1.33 percent from a year earlier in April with the price of vegetables up 21.13 percent, largely due to downpours and egg prices up 14.66 percent. However, fruit prices fell 11.09 percent from a year earlier in April to offset the price growth.
In the month, education and entertainment expenses rose 1.22 percent from a year earlier, boosted by travel costs, while the cost of transportation and communications services fell 0.21 percent, the DGBAS added.
The cost of a basket of 17 government-monitored household necessities, including rice, pork, bread, eggs, sugar, cooking oil, shampoo and toilet paper, rose 1.65 percent from a year earlier in April, the lowest increase since July 2017, when growth stood at 1.55 percent.
The wholesale price index (WPI) rose 0.58 percent from a year earlier in April, reflecting an increase in the price of mineral and fuel products, the DGBAS said.
The import price index climbed 1.78 percent from a year earlier in April in Taiwan dollar terms, but fell 3.05 percent in U.S. dollar terms, while the export price index gained 0.10 percent in Taiwan dollars but fell 4.63 percent in U.S. dollars, it added.
In the first four months of this year, the local CPI rose 0.40 percent from a year earlier, with core CPI up 0.47 percent and the WPI rising 0.64 percent, according to the DGBAS.
Source: Focus Taiwan News Channel