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Financial News: Taiwan Inflation Rises More Than Expected

Taiwan Inflation Rises More Than Expected

05/06/2022 - 11:22:00 (RTTNews)

(RTTNews) - Taiwan's consumer price inflation increased more than expected in April, data released by the Directorate General of Budget, Accounting & Statistics showed on Friday.

Consumer prices rose 3.38 percent year-on-year in April, following a 3.27 percent increase in March. Economists had forecast a 3.25 percent inflation.

Inflation accelerated mainly due to the rise in fuels and lubricants prices by 14.92 percent, driven by higher international oil prices.

The indexes for vegetables grew 27.7 percent, due to bad weather.

Excluding fruits, vegetables and energy, core consumer prices rose 2.53 percent in April.

On a monthly basis, the consumer price index rose 0.76 percent in April. The core CPI increased 0.71 percent.

Data showed that the wholesale prices rose 2.07 percent monthly in April, mainly due to depreciation of the Taiwanese dollar by 2.44 percent against the US dollar.

On a yearly basis, the wholesale prices gained 15.07 percent in April.

The producer price index for domestically produced products grew 2.08 percent monthly and 12.99 percent from a year ago.

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