Taiwan’s consumer prices fell for the sixth consecutive month in June but the drop was slower than economists expectations, figures from the Taiwan National Statistics showed Tuesday.
The consumer price index declined 0.56 percent year-over-year in June, slightly slower than economists’ expectations for a 0.70 percent decrease. In April, prices had fallen 0.74 percent.
Costs for transportation and communication declined 5.41 percent in June from the previous year and prices of clothing declined by 1.75 percent. At the same time, food prices rose 1.92 percent.
On a monthly basis, consumer prices edged up 0.69 percent in June. The agency said that summer electricity rates pulled electricity fees up leading to a rise in monthly consumer prices.
Separate data released by the agency also showed that the wholesale price index decreased at a slower annual pace of 9.30 percent in June, following a 9.59 percent decline in May. Economists had expected a 9.24 percent fall for the month. However, wholesale prices rose 0.39 percent month-on-month in June.
The import price index plunged 13.66 percent in June from a year ago, slower than May’s 14.11 percent drop. However, the fall in export prices eased to 5.45 percent from 6 percent.
The material has been provided by InstaForex Company – www.instaforex.com