Taiwan’s consumer price index (CPI) rose 0.86% in November from a year earlier amid lower fuel prices. This is a moderate growth from the 1.06% year-on-year increase in October.
The government statistics office released the figures on Friday. The latest data shows that fuel prices fell 11.43% in November from a year earlier. This is the steepest drop since August 2009.
Market analysts said global stockpiles remain high, so international crude oil prices continue to drop.
The government statistics office said because of the plunge in fuel prices, transportation and communication expenses in November fell 2.52% from a year earlier, which offset the impact of the continued growth in food prices last month.
Food prices in November rose 3.65% from a year earlier. The price of meat jumped 11.52%, and the price of eggs increased 8.77%. The cost of dining out in November rose 4.4% from a year earlier. The government statistics office says the cost of eating out is likely to continue rising until the first quarter of next year.