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Financial News: Taiwan Inflation Accelerates More Than Forecast

Taiwan Inflation Accelerates More Than Forecast

05/08/2018 - 05:32:00 (RTTNews)

(RTTNews) - Taiwan's consumer price inflation accelerated at a faster-than-expected pace in April, figures from the Directorate General of Budget, Accounting and Statistics showed Tuesday.

Consumer prices climbed 1.98 percent year-over-year in April, following a 1.58 percent rise in March. That was also above the 1.75 percent increase economists had forecast.

Food prices grew 2.69 percent annually in April and housing costs went up 0.99 percent. Meanwhile, clothing prices dropped 0.09 percent.

On a monthly basis, consumer prices rose 0.64 percent in April, mainly because prices of garments, fruits, as well as fuels and lubricants.

Data also showed that wholesale prices increased 2.53 percent yearly and by 1.05 percent monthly in April.

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