Producer Prices in Taiwan
Taiwan - Producer Prices
Inflation drops to lowest level since March in July
Consumer prices fell 0.03% from the previous month in July, swinging from June's 0.38% rise. July's result marked the weakest reading since December 2021. The result was largely due to lower prices for food. In addition, price pressures for housing increased at a softer rate.
Inflation came in at 3.4% in July, which was down from June’s 3.6%, marking the lowest inflation rate since March. July’s inflation reading will be welcome news for the Central Bank, and should ensure that rate hikes at the mid-September monetary policy meeting are modest—our panelists currently see rate hikes of either 12.5 or 25 basis points. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 2.9% in July (June: 2.8%).
FocusEconomics Consensus Forecast panelists see inflation averaging 3.0% in 2022, which is up 0.1 percentage points from last month’s forecast. For 2023, the panel projects inflation to average 1.8%.
Taiwan - Producer Prices Data
|Inflation (WPI, annual variation in %)||-8.9||-3.0||0.9||3.6||-2.3|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.69||1.28 %||Dec 31|
|Exchange Rate||29.91||0.07 %||Jan 01|
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August 18, 2022
The near-term economic impact should be limited. Longer-term risks are significant due to the potential for further sanctions, shipping disruptions and war. What happened: From 4 August, China launched a series of military drills close to Taiwan, in response to Nancy Pelosi—the Speaker of the U.S. House of Representatives—visiting Taiwan earlier in the month.
August 12, 2022
GDP growth dipped to 3.0% year on year in the second quarter from 3.7% in Q1, marking the slowest increase since Q2 2020 and slightly undershooting market expectations.
August 8, 2022
Merchandise exports rose 14.2% on an annual basis in July (June: +15.2% year-on-year) amid higher exports of electronics, machinery and mineral products.
August 5, 2022
Consumer prices fell 0.03% from the previous month in July, swinging from June's 0.38% rise.
August 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) declined from 49.8 in June to 44.6 in July.