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Financial News: Taiwan Inflation Slows In December

Taiwan Inflation Slows In December

01/06/2022 - 04:26:00 (RTTNews)

(RTTNews) - Taiwan's consumer price inflation eased for the first time in three months in December and prices decreased from the previous month, data released by the Directorate General of Budget, Accounting & Statistics revealed on Thursday.

Consumer prices rose 2.62 percent year-on-year in December, following a 2.85 percent increase in November. Economists had forecast a 2.7 percent inflation.

The indices for fuels and lubricants surged 19.55 percent due to rising oil prices and a relatively lower comparison base.

The food index climbed 4.23 percent, driven by a 21.61 percent jump in prices of fruits.

Prices of communication equipment decreased 6.31 percent.

Excluding fruits, vegetables and energy, core consumer prices rose 1.84 percent in December.

On a monthly basis, the consumer price index declined 0.21 percent, mainly because of lower prices of vegetables and stable climate.

In 2021, the CPI increased 1.96 percent and core inflation was 1.33 percent.

Data showed that the wholesale prices fell 1.01 percent monthly, but grew 12.25 percent annually in December.

In 2021, the wholesale price inflation was 9.42 percent.

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