Taiwan's CPI shows record rise of 3.59 pct in June

TAIPEI -- Taiwan's consumer price index (CPI), a major gauge of inflation, rose by 3.59 percent year on year in June, the largest gain in the past 14 years, according to data released by the island's statistics agency on Wednesday.

It marks the fourth consecutive month that the CPI has grown by over 3 percent on a yearly basis, the statistics showed. In the first half of this year, Taiwan's average CPI increased by 3.13 percent compared with the same period last year, implying a heavy inflation pressure.

The agency attributed the new record high in CPI growth mainly to the oil price hikes in the international market, and the rising prices of fruit, restaurant food and services, meat, eggs, household goods and rent.

Food prices remained top of the CPI growth list in June, registering a year-on-year increase of 7.27 percent, with egg prices rocketing by 29.11 percent and fruit prices up 25.31 percent.