TAIPEI (dpa-AFX) - Taiwan's consumer price inflation accelerated in January mainly due to the Lunar New Year's Eve in January, data released by the Directorate General of Budget, Accounting & Statistics revealed on Friday.
Consumer prices rose 2.84 percent year-on-year in January, following a 2.62 percent increase in December. Economists had forecast a 2.25 percent inflation.
The indices for fuels and lubricants grew 16.77 percent due to rising oil prices.
Excluding fruits, vegetables and energy, core consumer prices rose 2.42 percent in January.
On a monthly basis, the consumer price index rose 0.58 percent, mainly because of lunar new year's eve effects. The core CPI increased 0.63 percent.
Data showed that the wholesale prices rose 0.7 percent monthly and gained 10.83 percent annually in January.
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