Inflation in Taiwan up 1.64% in June
Central News Agency
2014-07-08 10:46 AM
Taipei, July 8 (CNA) Taiwan's consumer price index rose 1.64 percent in June from a year earlier largely due to continuing increases in food prices, according to government figures released Tuesday. The Directorate General of Budget, Accounting and Statistics (DGBAS) said basic living costs were on the rise during the month, in particular the cost of electricity, which also contributed to rising inflation. The rise in the CPI in June was similar to that in May (1.62 percent) and just below the 1.66 percent rise in April, which was the biggest monthly gain in 14 months. In the first six months of this year, Taiwan's CPI was up 1.21 percent from a year earlier. Several financial institutions, including DBS Bank and Standard Chartered Bank, expect Taiwan to face stiffer inflationary pressures in the second half of the year on expectations that food prices will continue to rise. DBS Bank has predicted that higher consumer prices will prompt Taiwan's central bank to kick off a rate hike cycle at the end of the fourth quarter at the earliest. (By Lin Meng-ju and Frances Huang)
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