Taiwan July inflation rises to near four-year high
Taiwan said that inflation rose to a nearly four-year-high of 2.46 percent in July, mainly because of soaring food prices brought on by bad weather.
The year-on-year hike in the consumer price index was the biggest since a 3.09 percent spike in September 2008 and was also up 0.38 percent from June, the directorate general of Budget, Accounting and Statistics said on Tuesday.
In July, vegetable and fruit prices soared 32.77 percent and 19.9 percent, respectively, due to torrential rains while fuel price grew 4.33 percent, it said.
Officials expect the August CPI to rise further after Typhoon Saola lashed the island last week, causing widespread damage to agricultural areas.
This file photo shows a customer at a hypermarket in Taipei, pictured in 2008. Taiwan said that inflation rose to a nearly four-year-high of 2.46 percent in July, mainly because of soaring food prices brought on by bad weather. (AFP)
Inflation pressure has been rising in Taiwan since the government hiked electricity prices and ended a fuel subsidy earlier this year, pushing up petrol prices by around 10 percent.
http://sg.news.yahoo.com/taiwan-july-inflation-rises-near-four-high-050138840–finance.html
Category: Taiwan
