Consumer prices for last month rise 2.84% - News Summed Up

Consumer prices for last month rise 2.84%


Consumer prices for last month rise 2.84%‘NO INFLATION’: A DGBAS official said that prices are likely to taper off, as tariffs on imported beef, wheat, cement and other items have been brought downBy Crystal Hsu / Staff reporterConsumer prices last month rose 2.84 percent from a year earlier to the highest in nearly nine years with almost every consumption category becoming more expensive amid soaring fuel and food prices, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. It is the sixth time this year that the inflationary gauge has exceeded the 2 percent alarm, but the agency reiterated that consumer prices remained stable and would subside this month. “Consumer prices would likely taper off this month after the government lowered tariffs on imported beef, wheat, cement and other items,” DGBAS official Tsao Chih-hung (曹志弘) said. Photo: CNARising cases of infection with the Omicron variant of SARS-CoV-2 abroad have cast a shadow over the global economy and put a damper on international oil prices, Tsao said. Living costs increased 1.6 percent owing to rent hikes and higher home repair costs, the agency said.


Source: Taipei Times December 07, 2021 22:12 UTC



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