2022.12.0608:19:00UTC+00Taiwan Inflation At 9-Month Low

Taiwan's consumer price inflation eased more-than-expected in November to the lowest level in nine months, data released by the Directorate General of Budget, Accounting & Statistics showed on Tuesday.

Consumer prices rose 2.35 percent year-on-year in November, slower than the 2.74 percent increase in October. Economists had forecast inflation to drop to 2.50 percent.

Further, this was the slowest rate of inflation since February, when prices had risen 2.33 percent.

The price index for eggs grew 24.81 percent annually in November, and that for fish and seafood rose 6.23 percent.

Prices for food away from home increased 5.81 percent, while the cost of communication equipment declined 7.26 percent.

On a monthly basis, consumer prices edged up a seasonally adjusted 0.07 percent in November, following a 0.13 percent rise in the prior month.

Data showed that the wholesale price inflation softened to a 20-month low of 9.07 percent in November from 10.97 percent in the previous month.

Producer price inflation also eased to 6.98 percent in November from 8.73 percent in October. The overall inflation was largely driven by higher prices for water, electricity and gas supply as well as petroleum and coal products.

Compared to the previous month, both producer and wholesale prices dropped 1.13 percent and 1.54 percent, respectively, in November.