Financial News: Taiwan Inflation Nears 1-Year High, Trade Surplus Grows

Taiwan Inflation Nears 1-Year High, Trade Surplus Grows

02/07/2025 - 05:58:00 (RTTNews)

(RTTNews) - Taiwan consumer price inflation accelerated further in January to the highest level in almost a year, data released by the Directorate General of Budget, Accounting, and Statistics showed on Friday.

Separate official data showed that the trade surplus in Taiwan rose notably at the start of the year as exports grew amid an unexpected slump in imports.

The consumer price index, or CPI, climbed 2.66 percent year-on-year in January, faster than the 2.11 percent rise in December.

Further, this was the highest inflation since February 2024, when prices had risen 3.08 percent.

The overall price growth in January was mainly because the Lunar New Year holidays of 2025 were earlier than in 2024. The prices for holiday grocery items and some service charges increased before or during the Lunar New Year holidays in January 2025, the agency said.

A rebound of 0.53 percent in the costs for transportation and communication had a major impact on the rise in inflation.

Costs for miscellaneous goods were 4.16 percent more expensive compared to last year, while food prices rose at a slower pace of 3.72 percent.

On a monthly basis, consumer prices rose a seasonally adjusted 0.25 percent in January after a 0.15 percent increase in the prior month.

Data showed that producer price inflation also climbed to 3.87 percent in January from 3.07 percent in December.

The trade surplus rose to $9.97 billion in January from $2.39 billion in the corresponding month last year, preliminary figures from the Ministry of Finance revealed.

Exports grew 4.4 percent year-over-year in January, slower than the 9.2 percent rise in the prior month. Economists had forecast 3.5 percent growth.

Shipments of information, communication, and audio-video products surged by 32.6 percent, while those of base metals and related material fell by 14.6 percent.

Imports plunged 17.2 percent annually after a sharp 30.2 percent increase in December. Meanwhile, imports were expected to increase by 0.7 percent.

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