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Taiwan Inflation August 2023

Taiwan: Inflation comes in at highest level since January in August

Inflation came in at 2.5% in August, up from July’s 1.9%. August’s reading marked the highest inflation rate since January. The result was driven by rising price pressures for food and transportation, amid recent typhoons boosting fruit and vegetable prices and an uptick in global oil prices. That said, inflation remains low compared to the levels in other advanced economies; OECD inflation clocked 5.9% in July.

Annual average inflation was unchanged at July’s 2.4% in August.

Finally, consumer prices rose 0.55% over the previous month in August, picking up from July’s 0.10% increase. August’s figure was the highest reading since April.

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