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Consumer
Price Index Falls 0.9% in November Than Last Year
Taiwan's November consumer
price index fell 0.9% from the same level last year. Koo, a
deputy director of the , said. The falling prices of fruits and
vegetables due to abundant supply and the high base period of
last year.
The busget agency is still forecasting that the CPI will rise
0.22% in 1999, the lowest in more than a decade.
However, the DGBAS(Directorate General of Budget, Account and
Statistics) reported that the wholesale price index posted a
1.16% increase from a year ago, the first positive growth over
the past 14 months.
An 8.6% rise in the price index of imported commodities is the
chief factor for the rising WPI last month, Koo said. In
November, prices for imported crude oil surged 93.6%, while
imported mineral prices rose 44.6%.
For every 3% hike in oil prices by the Chinese Petroleum Corp.,
the CPI would advance by 0.1 percentage point, Koo calculated.
The Cabinet-level agency forecast earlier the WPI will decline
4.5% in 1999.
, the Directorate General of Budget, Accounting & Statistics reported Monday
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Tuesday, December 7, 1999
Source: The Taiwan Economic News