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Taiwan Inflation June 2023

Taiwan: Inflation declines to lowest level since March 2021 in June

Inflation dropped to 1.8% in June, following May’s 2.0%. June’s result represented the lowest inflation rate since March 2021. Looking at the details of the release, transportation prices rose in June after dropping in the previous month, while price pressures for housing eased.

Annual average inflation ticked down to 2.5% in June (May: 2.7%).

Lastly, consumer prices increased 0.11% in June over the previous month, swinging from the 0.07% drop seen in May.

Mild price pressures relative to neighbors and the global average will allow the Central Bank to remain on hold in H2, and could even lead to rate cuts by year-end to support the economy, as some of our panelists are currently predicting.

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