Taiwan’s consumer price index (CPI) dropped by 0.73% year-on-year in May. That’s according to a report released Friday by the government statistics office.
Because of the falling oil prices, the CPI has been on the decrease for five months in a row. The prices for food and dining out, however, were up 0.87% and 2.02% respectively, but their percentage of increase was the smallest over the past year or so.
The report also said the basic 17 necessities of life monitored by the government’s price stabilization task force slipped by an average of 0.22% in May, the first slump in two and a half years. Prices for eggs and cooking oil had the highest percentage of decrease due to year-on-year fluctuations.
The government statistics office said there are no concerns of deflation because core CPI, which does not include energy and food prices, was up by 0.94%.