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Taiwan Inflation September 2023

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

Inflation came in at 2.9% in September, which was up from August’s 2.5%. September’s figure was the highest inflation rate since January. The reading was driven by rising price pressures for food, as a result of heavy rains brought by typhoons. Moreover, transport price pressures rose amid the recent increase in global oil prices.

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

Lastly, consumer prices increased 0.63% in September over the previous month, picking up from the 0.56% increase seen in August. September’s result was the sharpest increase in prices since April.

The arrival of Typhoon Koinu in October likely boosted food prices and inflation in the month. However, our panelists expect any upward price pressures to be short-lived, and for inflation to dip back below 2% next year.

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