Taiwan Inflation Rises To 2.24%, Highest In 3 Months

(RTTNews) - Taiwan consumer price inflation accelerated in May to the highest level in three months amid a rise in food costs, data released by the Directorate General of Budget, Accounting, and Statistics showed on Thursday.

The consumer price index, or CPI, rose 2.24 percent year-on-year in May, faster than the 1.94 percent rise in April. Economists had forecast inflation to climb to 2.20 percent.

Food inflation increased to 3.43 percent from 2.58 percent. Housing costs also increased at a faster pace of 2.32 percent versus a 2.07 percent rise seen in April.

On a monthly basis, consumer prices rose a seasonally adjusted 0.17 percent in May after a 0.09 percent increase in the prior month.

Data also showed that producer price inflation accelerated to 2.73 percent from 2.14 percent in April.