Taiwan Inflation Rises To 2.52%, Highest In 7 Months

(RTTNews) - Taiwan consumer price inflation increased further in August to the highest level in seven months amid higher food prices, data released by the Directorate General of Budget, Accounting, and Statistics showed on Wednesday.

The consumer price index, or CPI, rose 2.52 percent year-on-year in August, faster than the 1.88 percent rise in July. Economists had forecast inflation to rise to 2.1 percent.

Food prices alone grew 3.46 percent annually in August, versus a 1.28 percent gain in the previous month.

Prices for clothing were 1.06 percent higher compared to last year, and those for transportation and communication increased by 1.68 percent.

On a monthly basis, consumer prices increased a seasonally adjusted 0.18 percent in August versus a 0.23 percent rise in July.

Data also showed that producer prices fell at a slower rate of 0.06 percent annually in August after a 4.83 percent decline a month ago.