Taiwan (China) - Consumer Price Index (CPI)

For Taiwan, a consumer price index detailed by the local adaptation of COICOP, monthly from 1959; a detailed trade price index; a detailed wholesale price index.

The WPI comprises the Domestic Wholesale Price Index (DWPI), Import Price Index (IPI) and Export Price Index (EPI).

Consumer price index

Active:

• Classification: Local adaptation of COICOP (aligned with UN COICOP at the one-digit level)
• Measurement: Fixed-base index relative to 2016 (Index 2016=100)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequency: Monthly
• Start date: Uniformly 1981m1

Predecessors:

• 2011=100 - 1981 to 2017 ("_11")
• 2006=100 - 1981 to 2012 ("06")

Trade price index

Active:

• Classification: HS 2017
• Measurement: Fixed-base index relative to 2016 (Index 2016=100)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequency: Monthly
• Start date: 1981m1

Predecessors:

• 2011=100 - 1998 to 2017 ("_11")
• 2006=100 - 1981 to 2012 ("06")

Wholesale price index

Active:

• Classification:
• Measurement: Fixed-base index relative to 2016 (Index 2016=100)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequency: Monthly
• Start date: 1981m1 or 1991m1

Predecessors:

• 2011=100 - (1981, 2013) to 2017 ("_11")
• 2006=100 - (1981, 1991 or 2008) to 2012 ("06")
• 2001=100 - (2002, 2005) to 2007 ("01")

Type: Laspeyres weighted aggregate index.

Geo scope: All of Taiwan.

Classification: The local adaptation of COICOP, which is identical only at the one-digit level.

The 2016-based CPI covers 368 representative goods or services. Item prices are collected monthly in 17 cities or counties. Approximately 33,000 prices quotes are obtained each month, and the quotes are obtained mostly by personal interview.

The weights are based on the 2016 Household Final Consumption Expenditure of National Income, which derives from the Family Income/Expenditure Survey. Weights will be updated annually from 2018.

Core CPI is defined as general CPI excluding prices of fresh fruits, vegetables, and energy (gas, electricity, fuels, lubricants).

To reduce discrepancies between the public's perception of price movements and the formal CPI, DGBAS produces analytic indexes:

• CPI for non-durable goods: Includes consumption goods purchased most frequently by households, such as foods, energy, tissue paper, and toothpaste.
• CPI classified by frequency of purchase: Items bought about once per month, about once every three months, bought less often than once per three months.

Moody's Analytics supplements

For the CPI and WPI general indexes, we produce seasonally adjusted counterparts.

All seasonally adjusted and unadjusted CPIs are routinely subject to revision for up to three months  after original publication, to reflect late reports and corrections received from respondents. A final estimate isissued three months after initial publication.

Seasonally adjusted monthly data for the previous five years are revised at the time of  the release of the April CPI.

Major program changes are made upon the CPI rebasing, every five years.  The weights will be updated annually from 2018. As soon as the rebasing process is finished, the new results will be announced in the upcoming February with data of January.

The CPI is not a cost-of-living index (COLI). As defined by the UN and ILO, a CPI measures expenditure for a fixed market basket, whereas a COLI measures expenditure to achieve a fixed level of utility. The latter includes goods and services received free as in-kind transfers from government or NPISHs, and accounts for substitution effects.

Further reading

At the source:

• Price Statistics Monthly
• CPI data tables
• CPI metadata (SDDS template)
• WPI metadata
• Price FAQs
• News: The price indices for January 2021 (5 Feb 2021)