The latest report issued by the Statistics and Census Service (DSEC) indicated that the increase in 2017 was mainly attributable to rising charges for hotel accommodation and restaurant services, and higher prices of Chinese local food products. Meanwhile, falling prices of clothing and handbags as well as lower airfares tapered off part of the increase.
Analysed by main section of goods and services, price indices of Restaurant Services and Accommodation grew 5.11 percent and 4.97 percent respectively year-on-year, whereas those of clothing and footwear, transport and communications fell 7.16 percent and 6.52 percent respectively.
The DSEC report added that TPI for the fourth quarter of 2017 increased 5.59 percent year-on-year to 142.51 due to higher charges for hotel accommodation and restaurant services.
Among the various sections of goods and services, price index of accommodation (20.84 percent) recorded notable growth, followed by indices of transport and communications (6.83 percent) and restaurant services (4.09 percent). Meanwhile, price index of clothing and footwear registered a decrease of 4.84 percent.
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