RTTNews - Taiwan's consumer price index or CPI fell 0.08% year-on-year in May after falling 0.45% in April, the Directorate-General of Budget, Accounting and Statistics said Friday. Economists had forecast consumer prices to fall 0.31%. The CPI fell for the fourth straight month in May.

Prices fell mainly due to decline prices of transportation and communication and education and entertainment.

However, on a monthly basis, the CPI rose 0.42% led by increase in prices of fruits and vegetables and fuels and lubricant. The core CPI that excludes fruits, vegetables, fish, shellfish and energy declined 0.13%.

For the first five months of 2009, the CPI decreased 0.11% over the same period of previous year. During the same period, the core CPI advanced 0.84%.

Further, the statistical agency said the wholesale price index or WPI slide 0.01% month-on-month in May, taking the annual decline to 13.45%. The annual fall was slightly quicker than 12.5% contraction predicted.

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