Taiwan Inflation October 2022

Taiwan

Taiwan: Inflation moderates in October

November 7, 2022

Inflation came in at 2.7% in October, which was down from September’s 2.8%. Looking at the details of the release, the change in prices for food was largely stable in October while price pressures for housing were broadly in line with the previous month's reading. Meanwhile, transportation price growth softened. Inflation has now eased substantially from its mid-year level, and is currently far below comparable readings in other developed markets.

The trend was unchanged, with annual average inflation coming in at September's 3.0% in October.

Lastly, consumer prices increased 0.26% in October over the previous month, picking up from September's 0.25% rise.

Mild price pressures will reduce the rate hikes required of the Central Bank: Our analysts see only minor tightening at the Bank’s December meeting, with the policy rate forecast to rise to 1.75% from 1.625% currently.

FocusEconomics Consensus Forecast panelists see inflation averaging 1.8% in 2023, which is down 0.1 percentage points from last month’s forecast. For 2024, the panel projects inflation to average 1.5%.


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Taiwan Inflation October 2022

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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