Taiwan Inflation Increases In August

Taiwan's consumer price inflation increased in August, data released by the Directorate General of Budget, Accounting & Statistics revealed on Tuesday.

Consumer prices rose 2.36 percent year-on-year in August, following 1.95 percent increase in July. Economists had forecast a 1.90 percent increase.

The indices for fuels and lubricants surged 23.24 percent due to a relatively lower comparison base and the index for transportation fees rose 13.1 percent due to the increase in airfares.

Excluding fruits, vegetables and energy, core consumer prices rose 1.33 percent in August.

On a monthly basis, the consumer price index gained 0.59 percent mainly because of higher vegetable prices.

For the first eight months of 2021, the CPI increased 1.64 percent over the same period of previous year.

Data showed that wholesale prices grew 0.25 percent monthly and grew 11.88 percent annually in August.

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