Inflation in Taiwan
Taiwan - Inflation (end of period)
Inflation plunges to lowest level since February in August
Inflation came in at 2.7% in August, down from July’s 3.4% and notably below market expectations. August's reading represented the weakest inflation rate since February, and was driven by lower price pressures for food, housing, and transportation. Taiwan’s inflation is far below the rates observed in other developed markets, partly due to mild wage growth.
Annual average inflation edged up to 3.0% in August (July: 2.9%). Finally, consumer prices fell 0.09% over the previous month in August, a sharper drop than the 0.03% fall recorded in July.
The lower-than-expected August figure will reduce pressure for the Central Bank to hike rates aggressively when it convenes on 22 September.
FocusEconomics Consensus Forecast panelists see inflation averaging 3.1% in 2022, which is up 0.1 percentage points from last month’s forecast. For 2023, the panel projects inflation to average 1.8%.
Taiwan - Inflation (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||0.1||1.7||1.2||-0.1||1.1|
5 years of economic forecasts for more than 30 economic indicators.
Taiwan Inflation (eop) Chart
Source: Directorate-General of Budget, Accounting & Statistics and FocusEconomics calculations.
|Bond Yield||0.69||1.28 %||Dec 31|
|Exchange Rate||29.91||0.07 %||Jan 01|
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September 6, 2022
Inflation came in at 2.7% in August, down from July’s 3.4% and notably below market expectations.
September 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) declined from 44.6 in July to 42.7 in August.
August 18, 2022
The near-term economic impact should be limited. Longer-term risks are significant due to the potential for further sanctions, shipping disruptions and war. What happened: From 4 August, China launched a series of military drills close to Taiwan, in response to Nancy Pelosi—the Speaker of the U.S. House of Representatives—visiting Taiwan earlier in the month.
August 16, 2022
Industrial output increased 1.1% year on year in July (June: +0.5% yoy).
August 12, 2022
GDP growth dipped to 3.0% year on year in the second quarter from 3.7% in Q1, marking the slowest increase since Q2 2020 and slightly undershooting market expectations.