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Inflation in Taiwan rose at a slower pace than expected in April as price growth for fuels, lubricants, tobacco and betel nuts were offset by falling food prices.

The consumer price index rose 0.12 per cent year on year in April, slowing from a 0.18 per cent pace in March, according to Taiwan’s Directorate-General of Budget, Accounting and Statistics. This was below a median estimate from economists of 0.5 per cent growth compiled by Bloomberg.

Prices of fuels and lubricants saw the largest year on year increase, up 12.24 per cent, while tobacco and betel nut prices were up 6.76 per cent, followed by prices for fish, seafood and meats which rose by 5.06 per cent.

Vegetables saw the largest year-on-year fall in prices, down 34.54 per cent, with the price of eggs down 8.2 per cent.

Core CPI, which strips out food and energy prices, rose 1.01 per cent year on year.

Upstream prices also rose, albeit it at a slower pace, with Taiwan’s wholesale price index up 1.12 per cent in April – also below expected growth of 1.57 per cent and down from a revised pace of 1.74 per cent in March (previously 1.84 per cent).

Copyright The Financial Times Limited 2018. All rights reserved.

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