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Taiwan inflation hits 3.5-year low in October

Reporter TVBS News Staff
Release time:2024/11/06 21:00
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Taiwan inflation hits 3.5-year low in October (Shutterstock) Taiwan inflation hits 3.5-year low in October
Taiwan inflation hits 3.5-year low in October (Shutterstock)

TAIPEI (TVBS News) — Taiwan's inflation rate slowed in October, reaching a 3.5-year low, the Directorate General of Budget, Accounting and Statistics (DGBAS, 主計總處) said on Wednesday (Nov. 6). The consumer price index (CPI) rose 1.69% year-over-year, indicating a continued easing inflationary pressure.

Core CPI, which excludes volatile items like vegetables and energy, also decreased, growing only 1.64% year-over-year. This suggests a reduction in upward price pressures. However, Typhoon Krathon caused agricultural losses, pushing up prices for vegetables and fruits. Additionally, the cost of cooking oil and dining out increased.

 

While rents and registration fees continued to rise, drops in egg prices, fuel costs, and airfare offset some of these gains. The CPI for essential goods fell 0.62% in October, marking a more considerable decline than September's, reflecting a decrease in prices for particular necessities.

Taiwan Affairs

#Taiwan inflation# consumer price index# core CPI# inflation rate# agricultural losses# cooking oil prices# dining out costs# Taiwan inflation rate October# impact of Typhoon Krathon on prices# decrease in essential goods prices

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