Taiwan Inflation August 2016

Taiwan

Taiwan: Inflation falls sharply in August

September 6, 2016

In August, consumer prices dropped 0.03% over the previous month, which contrasted the 0.23% increase recorded in July. The decrease mainly reflected lower prices for clothing and footwear as well as for fuel and petroleum products, according to the Directorate-General of Budget, Accounting & Statistics (DGBAS).

Inflation came in at 0.6% in August, which was below the 1.2% recorded in July and marked the lowest reading since December. Meanwhile, annual average inflation inched up from 0.9% in July to 1.0% in August.

Core consumer prices, which strip out prices for electricity and fresh food, fell 0.17% in August, which offset the 0.17% increase in July. Core inflation remained unchanged at July’s 0.8% in August.

The government foresees inflation of 1.1% in 2016. FocusEconomics Consensus Forecast panelists also expect inflation of 1.1% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel sees inflation inching up to 1.2%.


Author:, Senior Economist

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Taiwan Inflation August 2016 1

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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