06.07.202309:30:00UTC+00Taiwan Inflation Eases To 1.75%, Lowest In 27 Months

Taiwan consumer price inflation eased more-than-expected in June to the lowest level in more than two years, largely due to a slowdown in food prices, data released by the Directorate General of Budget, Accounting, and Statistics showed on Thursday.

The consumer price index, or CPI, rose 1.75 percent year-on-year in June, slower than the 2.02 percent rise in May. Economists had forecast inflation to drop to 1.90 percent.

Further, this was the weakest inflation rate since March 2021, when prices had risen 1.22 percent.

Food price inflation eased notably to 1.4 percent in June from 3.0 percent in May.

Housing costs were 2.0 percent higher compared to last year, while transportation and communication charges rose only 0.3 percent.

On a monthly basis, consumer prices edged down a seasonally adjusted 0.08 percent in June versus a 0.11 percent decrease in May.

Data also showed that producer prices dropped 4.84 percent annually in June after a 3.94 percent fall a month ago. This was the fourth successive monthly decline.