Taiwan Inflation Eases Slightly To 2.54% In July

(RTTNews) - Taiwan's consumer price inflation moderated marginally in July from a 17-month high in June, data released by the Directorate General of Budget, Accounting, and Statistics showed on Thursday.

The consumer price index, or CPI, rose 2.54 percent year-on-year in July, slower than the 2.59 percent rise in June. The expected inflation rate was 2.4 percent. Moreover, inflation remained above the central bank's target of 2.0 percent.

The annual price growth in commodity goods eased to 2.32 percent from 2.49 percent, and housing inflation slowed to 2.2 percent from 2.32 percent. Meanwhile, food inflation climbed to 2.49 percent from 1.78 percent.  

Average domestic gasoline prices remained high, causing the index for fuels and lubricants to rise 11.16 percent, the agency said.

The price index for airfares rose due to the fuel surcharge increase, and prices for entertainment services rose 4.35 percent.

On a monthly basis, consumer prices moved up 0.18 percent.

Data also showed that producer price inflation quickened to 16.94 percent in July from 15.52 percent in June.