Taiwan’s consumer prices increased for the second straight month in October at a faster-than-expected pace, figures from the Taiwan National Statistics showed Thursday.
The consumer price index went up 0.31 percent year-over-year in October, exceeding economists’ expectations for a 0.2 percent climb. In September, prices had risen 0.29 percent.
Food prices grew 5.1 percent in October from a year ago and health costs rose by 0.62 percent. At the same time, transportation and communication costs dipped 5.15 percent.
On a monthly basis, consumer prices edged up 0.09 percent in October.
In a separate report, the statistical office announced that wholesale prices declined 8.47 percent annually in October, slightly slower than prior month’s 8.74 percent fall. The expected rate of drop was 8.2 percent.
Prices have been falling since September last year. Month-on-month, wholesale prices went down 0.89 percent.
Import prices plunged 11.2 percent yearly and dropped 0.62 percent monthly in October.
The material has been provided by InstaForex Company – www.instaforex.com