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MNI BRIEF: Taiwan CPI Slows In March As Central Bank Tightens

MNI (BEIJING)
MNI (Beijing)

Consumer prices in Taiwan increased 2.35% in March y/y, a slightly slower rate than February’s 2.43% as the central bank continues to tighten monetary policy.

Taiwan's central bank surprised markets by raising its key policy rate 12.5bp to 1.875% at last month's policy meeting, its fifth consecutive hike since February 2022. (SEE: MNI BRIEF: Taiwan's CBC Hikes Policy Rate 12.5bp to 1.875% - Bonds & Currency News | Market News)

Indices for eggs and fruit rose 25.0% and 11.80% respectively, according to data from the Department for National Statistics on Tuesday. Prices for nursing care, meat, and eating out rose 6.23%, 5.75%, and 4.08%, partly offset by decreases in fuel and lubricants and communication equipment which fell 6.74%, and 5.48% respectively.

Core CPI, which does not include volatile fuel and food components, increased 2.69% y/y.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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