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Financial News: Taiwan Inflation Eases To 1.79%, More Than Forecast

Taiwan Inflation Eases To 1.79%, More Than Forecast

02/06/2024 - 03:52:00 (RTTNews)

(RTTNews) - Taiwan consumer price inflation eased further in January to the lowest level in seven months, data released by the Directorate General of Budget, Accounting, and Statistics showed on Tuesday.

The consumer price index, or CPI, rose 1.79 percent year-on-year in January, slower than the 2.70 percent rise in December. Economists had forecast inflation to ease to 2.2 percent.

Further, this was the weakest inflation rate since June 2023, when prices had risen 1.75 percent.

Food inflation moderated to 4.10 percent from 4.73 percent. Housing costs also increased at a slower pace of 1.75 percent versus a 1.82 percent rise seen in December.

On a monthly basis, consumer prices moved up 0.21 percent in January.

Data also showed that producer prices fell 0.46 percent annually in January, almost in line with the 0.47 percent drop a month ago.

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