Taiwan Inflation July 2016

Taiwan

Taiwan: Inflation picks up in July

August 8, 2016

In July, consumer prices were up 0.22% over the previous month, coming down from the 0.35% increase recorded in June. According to the Directorate-General of Budget, Accounting & Statistics (DGBAS), the increase mainly reflected higher prices for vegetables and entertainment, which were partly offset by lower prices for fruits and garments.

Inflation was at 1.2% in July, which was up from the 0.9% recorded in June. Moreover, annual average inflation inched up from 0.8% in June to 0.9% in July. The print observed in July marked the highest reading since March 2015.

Core consumer prices, which strip out prices for electricity and fresh food, rose 0.17% in July, coming in above the revised 0.01% increase tallied in June (previously reported: 0.00% month-on-month). Meanwhile, core inflation remained unchanged in July at the 0.8% print tallied in June.

The government foresees inflation of 0.7% in 2016. FocusEconomics Consensus Forecast panelists 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 rising to 1.2%.


Author: Jean-Philippe Pourcelot, Economist

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Taiwan Inflation July 2016 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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