Consumer prices in Taiwan fell further by 1.19% year-on-year in May of 2020, after a downwardly revised 0.96% decrease in the prior month and compared with market consensus of a 0.80% decrease. It was the fourth consecutive month of deflation and marked the steepest decline in consumer prices since November of 2009, amid the continued impact of the coronavirus pandemic. Main downward pressure came from transportation & communication (-8.53% vs -8.54% in April), namely fuels & lubricants (-35.28% vs -35.50%); and education & entertainment (-1.69% vs -1.79%). In addition, inflation slowed mostly for food (0.30% vs 1.27%), pushed down by vegetables (-14.92%); housing (0.04% vs 0.15%) and clothing (0.74% vs 1.68%). Conversely, prices advanced faster for health (1.08% vs 0.94%) and miscellaneous (0.87% vs 0.62%). On a monthly basis, consumer prices dropped 0.12%, following a 0.72% decrease in the previous month.
Inflation Rate in Taiwan averaged 3.99 percent from 1960 until 2020, reaching an all time high of 61.47 percent in March of 1974 and a record low of -3.09 percent in October of 1970. This page provides the latest reported value for - Taiwan Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Taiwan Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.
Inflation Rate in Taiwan is expected to be -1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Taiwan to stand at 1.20 in 12 months time. In the long-term, the Taiwan Inflation Rate is projected to trend around 1.70 percent in 2021 and 2.50 percent in 2022, according to our econometric models.