Taiwan’s consumer price index (CPI) for August fell 0.45% from a year earlier. The CPI has registered a year-on-year decline for eight consecutive months.
The main reason for the fall is a drop in fuel prices, which have fallen more than 20 percent for nine consecutive months. As a result, the entire CPI was dragged down by one percentage point in August. Food prices went up 3.07% from a year earlier though, with vegetable prices rising the most at 14.07%. Prices of fruit, prepared foods, meat and dining out expenses also rose.
The government statistics office said however that there are no concerns that Taiwan will face any deflationary pressure any time soon. That’s because the core CPI, which excludes vegetables, fruits and energy, rose 0.61% in August.