Taiwan’s consumer price inflation accelerated more-than-expected in December, largely driven by higher food prices, especially eggs, data released by the Directorate General of Budget, Accounting & Statistics showed on Friday.
Consumer prices rose 2.71 percent year-on-year in December, faster than the 2.35 percent increase in November. Economists had forecast inflation to rise to 2.50 percent.
The price index for eggs grew 19.92 percent annually in December, and that for vegetables rose 11.98 percent.
Prices for fish and seafood increased 6.25 percent, while the cost of communication equipment declined 8.30 percent.
On a monthly basis, consumer prices went up a seasonally adjusted 0.33 percent in December, following a 0.6 percent nominal rise in the prior month.
Producer price inflation eased to 6.42 percent in December from 7.13 percent in November. The overall inflation was largely driven by higher prices for water, electricity and gas supply as well as petroleum and coal products.
Data also showed that wholesale price inflation was 7.14 percent in December, down from 9.11 percent a month earlier.