Taiwan Inflation January 2020

Taiwan

Taiwan: Inflation jumps to 21-month high in first month of the year

February 6, 2020

Consumer prices increased 0.59% in January compared with the previous month, accelerating from December ’s revised 0.06% increase (previously reported: +0.04%). The reading reflected higher prices for transportation and entertainment—likely affected by increased demand during Chinese New Year holidays—partially offset by the falling prices for clothing and footwear, and food.

Core consumer prices, which exclude prices for energy, fruits and vegetables, increased 0.7% month-on-month in January, having remained unchanged in December.

Inflation, meanwhile, picked up to 1.9% at the outset of the year, from December’s 1.1%, rising for the fourth consecutive month and marking the highest reading since April 2018. Annual average inflation inched up to 0.7% in January, from 0.6% in the previous month.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.9% in 2020, which is down 0.1 percentage points from last month’s forecast. In 2021, the panel sees inflation averaging 1.2%.


Author:, Economist

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Taiwan Inflation January 20 20 0

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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