Taiwan Inflation June 2017

Taiwan

Taiwan: Inflation accelerates in June

July 5, 2017

Consumer prices increased 0.76% in June compared to the previous month, which was well above the 0.10% increase recorded in May and marked the highest figure since October of last year. The result was driven by sky-rocketing prices of vegetables, which rose by nearly a third, and higher charges for water, electricity and gas supply. These increases offset a moderate drop in fuels and lubricants.

Inflation came in at 1.0% in June, the highest reading since January and above the 0.6% figure recorded in May. The largest contribution to the pickup in inflation stemmed from higher prices for food and a steady increase in healthcare fees. Moreover, annual average inflation was stable in June at May’s 1.0%.

Core consumer prices, which exclude prices for electricity and fresh food, eased 0.13% in June (May: +0.05%). Core inflation dipped from 1.1% in May to 1.0% in June.

The government expects inflation to average 1.0% in 2017. FocusEconomics Consensus Forecast panelists expect inflation of 1.3% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, the panel sees inflation averaging 1.4%.


Author:, Economist

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Taiwan Inflation June 2017

Note: Month-on-month and year-on-year changes of consumer price index (CPI) in %.
Source: Directorate-General of Budget, Accounting & Statistics (DGBAS).


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