Financial News: Taiwan Inflation Rises To 3.08%, Highest In 19

Taiwan Inflation Rises To 3.08%, Highest In 19 Months

03/07/2024 - 04:25:00 (RTTNews)

(RTTNews) - Taiwan consumer price inflation accelerated in February to the highest level in just over one-and-a-half years, data released by the Directorate General of Budget, Accounting, and Statistics showed on Thursday.

The consumer price index, or CPI, rose 3.08 percent year-on-year in February, faster than the 1.80 percent rise in January. Economists had forecast inflation to climb to 2.54 percent.

Further, this was the weakest inflation rate since July 2022, when prices had risen 3.35 percent.

Food inflation increased to 4.49 percent from 4.11 percent. Housing costs also increased at a faster pace of 2.02 percent versus a 1.75 percent rise seen in January.

On a monthly basis, consumer prices moved up 0.15 percent in February after a 0.22 percent increase in the prior month.

Data also showed that producer prices rose 0.32 percent annually in February, reversing a 0.56 percent drop a month ago.

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