TAIPEI (TVBS News) — Taiwan's consumer price index (CPI) surged by 2.42% in June, the highest in four months, driven primarily by a 22.60% spike in fruit prices, the Directorate General of Budget, Accounting and Statistics (主計總處) reported Fri (July 5). Rising rents and dining-out costs further intensified inflationary pressures.
The overall CPI increase stemmed from higher food prices, including fruits, cooking oil, vegetables, dining out, and climbing rents, clinic registration fees, electricity rates, and transportation services. Rent rose by 2.59%, while the cost of dining out increased by 2.78%.
Egg prices declined due to an oversupply, offsetting some inflation. The core CPI annual growth rate was 1.83%, excluding vegetables, fruits, and energy. Food prices saw the most significant change among the seven categories, increasing by 4.16%, with fruit prices up 22.60% due to recent heavy rains and a low base last year. Cooking oil, vegetables, prepared foods, and dining out costs also rose by 6.23%, 4.55%, 2.87%, and 2.78%, respectively.
Medical and healthcare costs followed, rising by 3.78%, driven by increased clinic registration fees and the National Health Insurance co-payment adjustment scheme implemented in July 2023. This adjustment raised outpatient drug and emergency co-payments, increasing medical expenses by 6.24%.
The impact of the April electricity rate hike persisted, with the housing category rising by 2.27% in June. Electricity, rent, and residential repair costs increased by 5.21%, 2.59%, and 2.50%, respectively. Rent's annual growth rate of 2.59% has remained high since surpassing 2% in July 2022, except for June and July 2023, indicating persistent upward pressure.
