06.06.202312:17:00UTC+00Taiwan Inflation Eases To 2.02%, Lowest In 22 Months

Taiwan consumer price inflation eased in May to the lowest level in nearly two years, data released by the Directorate General of Budget, Accounting, and Statistics showed on Tuesday.

The consumer price index, or CPI, rose 2.02 percent year-on-year in May, slower than the 2.35 percent rise in April. Economists had forecast inflation to drop to 2.29 percent.

Further, this was the weakest inflation rate since July 2021, when prices had risen 1.91 percent.

Food prices were 2.96 percent more expensive compared to last year, and education and?entertainment costs moved up 3.01 percent.

Housing costs climbed 2.14 percent, while clothing prices showed a fall of 0.64 percent.

On a monthly basis, consumer prices edged down 0.11 percent in May after a 0.42 percent rise in the previous month.

Data also showed that producer prices dropped 3.75 percent annually in May after a 3.24 percent fall a month ago.