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Taiwan’s consumer price inflation increased in July, data released by the Directorate General of Budget, Accounting & Statistics revealed on Thursday.

Consumer prices rose 1.95 percent year-on-year in July, following 1.87 percent increase in June. Economists had forecast a 1.81 percent increase.

The indices for fuels and lubricants surged 25.87 percent due to a relatively lower comparison base and the index for transportation fees rose 12.27 percent due to the increase in airfares.

Excluding fruits, vegetables and energy, core consumer prices rose 1.29 percent in July.

On a monthly basis, the consumer price index gained 0.21 percent mainly because of higher water, electricity and gas prices.

For the first seven months of 2021, the CPI increased 1.54 percent over the same period of previous year.

Data showed that wholesale prices grew 1.46 percent monthly and grew 11.77 percent annually in July.


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