Xinhua News Agency, Taipei, August 6 (Reporter Yue Xitong and Qi Xianghui) The statistics department of the Taiwan authorities announced on the 5th that the annual growth rate of Taiwan's consumer price index (CPI) in July was 3.36%, a slight decline from the previous month. It exceeded the 3% inflation warning line for the fifth consecutive month.
Taiwan's statistics department said that the annual growth rate of CPI in July was still more than 3%.
The main reason is that the price of fruit has remained high, the base of electricity bills in the same month last year was low, and the electricity consumption of some residential buildings has increased since July, as well as the price of foreign meals, meat, eggs, oil, rent and household goods.
Taiwan's statistics department said that Taiwan's imported inflationary pressures have not significantly eased.
At the end of May, the department predicted that the annual growth rate of Taiwan's CPI for the whole year was 2.67%. Since the annual growth rate of the CPI in the second quarter was 3.46%, which was higher than expected, it is more likely that the annual growth rate of the annual CPI will be revised up.
Affected by inflation, think tanks on the island recently revised down Taiwan's economic growth rate this year, and the Taiwan Economic Research Institute adjusted its forecast for this year's economic growth rate to 3.81%.
According to data previously released by Taiwan's statistics department, Taiwan's economic growth rate in the second quarter was 3.08%, lower than the 3.31% expected in May.