Inflation slightly grows 1%

The Composite CPI for January 2024 grew 1.01% year-on-year, according to data from Statistics and Census Service (DSEC). The increment was attributed to the increases in the charges for eating out and package tours, as well as rising tuition fees and higher prices for clothing and liquefied petroleum gas. However, the rise was partially moderated by lower airfares and reduced prices for pork and vegetables. Compared with December 2023, the Composite CPI fell 0.17% in January 2024. For the 12 months ending January 2024, the average Composite CPI grew 0.96% from the previous period, and the price indices of Education (+7.81%), Recreation & Culture (+5.31%) and Clothing & Footwear (+4.37%) climbed notably.