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Taiwan Inflation July 2022

Taiwan: Inflation drops to lowest level since March in July

Consumer prices fell 0.03% from the previous month in July, swinging from June’s 0.38% rise. July’s result marked the weakest reading since December 2021. The result was largely due to lower prices for food. In addition, price pressures for housing increased at a softer rate.

Inflation came in at 3.4% in July, which was down from June’s 3.6%, marking the lowest inflation rate since March. July’s inflation reading will be welcome news for the Central Bank, and should ensure that rate hikes at the mid-September monetary policy meeting are modest—our panelists currently see rate hikes of either 12.5 or 25 basis points. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 2.9% in July (June: 2.8%).

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