Taiwan 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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Retailers Macy's, Inc. (M) and Dollar General Corp. (DG) reported on Thursday that net profits for the first quarter declined from last year, with Macy's topping estimates, while Dollar General missed it. Net sales at both retailers missed expectations. Both Macy's and Dollar General also slashed their guidance for the full-year 2023. The U.S. Food and Drug Administration has warned certain retailers against unauthorized sales of popular disposable e-cigarettes, mainly various types of Puff and Hyde brand e-cigarettes. Under the retailer inspection blitz, warning letters have been issued to 30 retailers, including one distributor, for illegally selling such products. All products cited in the warning letters are disposable Tillamook County Creamery Association is recalling a limited quantity of family-size 1.5qt cartons of Tillamook Waffle Cone Swirl ice cream due to undeclared wheat and soy, known allergens, the U.S. Food and Drug Administration said. The Tillamook Waffle Cone Swirl ice cream was mistakenly packaged in a Tillamook Chocolate Peanut Butter ice cream carton.
Follow RTT