Taiwan: Inflation inches up in November
December 5, 2013
In November, consumer prices fell 0.72% over the previous month, which followed the 0.27% decrease tallied in October and marked the sharpest decline since March. According to the Directorate General of Budget, Accounting and Statistics (DGBAS), November's fall in consumer prices mainly reflected a sharp decline in prices for food and clothing.
Annual inflation inched up from 0.6% in October to 0.7% in November, falling short of the 1.0% rate the market had expected. Annual average inflation inched down from 1.0% in October to 0.9% in November and now sits at the lowest level since November 2010.
The core inflation index - which excludes volatile categories such as fresh food and energy - declined 0.11% over the previous month (October: +0.37% month-on-month). Annual core inflation remained at October's 0.2% in November.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.1% in 2013, which is down 0.1 percentage points from last month's forecast. Next year, the panel sees inflation increasing to 1.7%, which is unchanged from last month's estimate.