Business News
Taiwan's consumer price index drops 0.81 per cent in August
Sep 7, 2009, 15:16 GMT
Taipei - Taiwan's consumer price index (CPI) dropped by 0.81 per cent in August year-on-year to 106.17 points, driven down by falling oil and food prices, the government statistics agency said Monday.
'Despite oil price hikes in recent months, oil product prices in August still dropped considerably compared with the same month last year,' the Directorate-General of Budget, Accounting and Statistics said in a statement.
Prices for food, entertainment, consumer electronics products and accommodation all dropped because of slow demand brought about by the global downturn, it said.
But compared with July, the CPI went up 1.8 per cent, due mainly to sharp increase in food prices spurred by Typhoon Morakot, which caused serious agricultural damage and left 758 people dead, the agency said.
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