TAIPEI (TVBS News) — The Directorate General of Budget, Accounting and Statistics (主計總處) reported on Tuesday (Jan. 7) that Taiwan's consumer price index (CPI) for December 2024 rose by 2.10% year-over-year, matching the forecast made at the end of November. This increase concludes a year where the CPI saw a 2.18% rise, marking the third consecutive year with inflation rates above 2% since 2022.
The annual CPI increase of 2.18% in 2024 reflects significant pressures on consumers, with a 2.45% rise in rental costs and a 3.14% increase in dining-out expenses. These hikes have particularly affected tenants and those who frequently eat out. Typhoon-related disruptions in November spiked vegetable prices by 30.69%, pushing the CPI back above 2% after a brief dip in September.
In addition to vegetables, prices for fruits, edible oils, seafood, and dining out also climbed. Meanwhile, rent, medical registration fees, parking fees, and vehicle maintenance costs increased, although declines in egg prices, fuel costs, and airfare provided some relief. The CPI's annual rise included a 1.89% increase in goods and a 2.45% increase in services. The persistent rise in rental and dining costs has emerged as the most significant variable in this year's price trends, according to data.