Taiwan (China) - Consumer Price Index (CPI)





Taiwan (China): Consumer Price Index (CPI)

Mnemonic CPI.ITWN
Unit Index 2021=100, SA
Adjustments Seasonally Adjusted
Monthly 0.15 %
Data Feb 2024 106.99
Jan 2024 106.83

Taiwan (China): Price

Reference Last Previous Units Frequency
Consumer Price Index (CPI) Feb 2024 106.99 106.83 Index 2021=100, SA Monthly
Producer Price Index (PPI) Feb 2024 109.42 108.98 Index 2021=100, NSA Monthly

Release Information

For Taiwan, a consumer price index detailed by the local adaptation of COICOP, monthly from 1959; a detailed producer price index; a detailed trade price index, which consists of an Export Price Index (EPI) and Import Price Index (IPI).

A detailed wholesale price index was reported until 2022. The WPI comprises the Domestic Wholesale Price Index (DWPI), EPI and IPI.

Consumer price index (CPI)

Active:

  • Classification: Local adaptation of COICOP (aligned with UN COICOP at the one-digit level)
  • Measurement: Fixed-base index relative to 2021 (Index 2021=100)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start dates:
    • 1959m1 for all-items
    • 1981m1 for most
    • 1986m1
    • 2013m1

Predecessors:

  • 2016=100 - 1981m1 to 2022m12 ("_16")
  • 2011=100 - 1981m1 to 2017m12 ("_11")
  • 2006=100 - 1981m1 to 2012m12 ("06")

Producer price index (PPI)

Active:

  • Classification: SIC Rev. 10 with modifications
  • Measurement: Fixed-base index relative to 2021 (Index 2021=100)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start date: Uniformly 2021m1

Trade price index (EPI, IPI)

Active:

  • Classification: HS 2017
  • Measurement: Fixed-base index relative to 2021 (Index 2021=100)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start dates:
    • 1981m1
    • 1991m1
    • 1998m1
    • 2008m1

Predecessors:

  • 2016=100 - 1981m1 to 2022m12 ("_16")
  • 2011=100 - 1998m1 to 2017m12 ("_11")
  • 2006=100 - 1981m1 to 2012m12 ("06")

Wholesale price index (WPI)

Final:

  • Classification: Unknown
  • Measurement: Fixed-base index relative to 2016 (Index 2016=100)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start dates:
    • 1981m1
    • 1991m1
  • End date: Uniformly 2022m12

Predecessors:

  • 2011=100 - {1981, 2013} to 2017m12 ("_11")
  • 2006=100 - {1981, 1991 or 2008} to 2012m12 ("06")
  • 2001=100 - {1952, 2002, 2005} to 2007m12 ("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.

For the all-items PPI, we back-extend (1981m1 to 2020m12) using WPI. We construct a seasonally adjusted counterpart using the X-13ARIMA-SEATS program.

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 concurrent with 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:

  • 20 Feb 2023, Phillip Thorne - Rebased CPI and TPI, terminated WPI.
  • 6 Mar 2023, Phillip Thorne - Added PPI.