Taiwan Inflation


Inflation inches up in September

In September, consumer prices rose 0.11% over the previous month, following a virtually flat reading in August. The monthly rise reflected higher prices for food during the Mid-Autumn Festival and for housing. Annual headline inflation inched up from 1.3% in August to 1.4% in September, which was broadly in line with market expectations. The core inflation index, which excludes volatile categories such as fresh food and energy, decreased 0.07% over the previous month. As a result, annual core inflation eased from 1.3% in August to 1.2% in September. In addition, annual average headline inflation remained unchanged at Augusts' 1.3% rate. Meanwhile, at its 29 September quarterly policy meeting, the Central Bank left the discount rate unchanged at 1.875%, in a move widely expected by market analysts. The Bank's decision follows five consecutive rate hikes of 12.5 basis points at each quarterly meeting since June 2010. The Bank cited cited lower inflationary expectations, slower exports and weaker industrial output growth due to a weakening global economic outlook as key determining factors. The government recently trimmed its forecast for the full-year CPI increase from 1.9% to 1.6%.


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Taiwan Economic News

  • Taiwan: Exports fall and trade surplus narrows in September

    October 9, 2016

    In September, the trade surplus totaled USD 4.4 billion, according to data from the Ministry of Finance.

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  • Taiwan: Inflation moderates further in September

    October 5, 2016

    In September, consumer prices increased 0.45% over the previous month, which was a rebound from the 0.03% fall recorded in August.

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  • Taiwan: Manufacturing PMI hits two-year high in September

    October 3, 2016

    Taiwanese manufacturers registered better business conditions for the fourth consecutive month in September.

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  • Taiwan: Central Bank halts easing cycle on healthy economic growth

    September 29, 2016

    At its quarterly monetary policy meeting on 29 September, the Central Bank of the Republic of China (Taiwan) decided to leave the discount rate unchanged at 1.375%, which was a decision that markets had expected, although some analysts had foreseen a further reduction to the key policy rate. The Central Bank has cut the main monetary policy rate four times since September 2015 by a total of 50 basis points and this time the authority decided to leave interest rates unchanged “against a back drop of moderate global growth and renewed momentum for the domestic economy, along with a mild inflation outlook for next year.” Regarding global developments and how they affect the Taiwanese economy, the Central Bank stated that the global economy continues to decelerate as a result of slower economic growth in the U.S., a still tepid recovery in the Eurozone economy and sluggish economic activity in Japan.

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  • Taiwan: Industrial production benefits from Apple’s new iPhone debut

    September 27, 2016

    Taiwan’s industrial output increased substantially in August, backed by a base effect but also due to strong growth in semiconductor manufacturers’ output, which benefited from the debut of Apple’s latest iPhone model.

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