Taiwan Inflation Hits 14-Year High, Adding to Economy’s Woes
- CPI hits 3.59% in June, in line with economist expectations
- Central bank likely to raise rates in coming months: StanChart
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Taiwan’s consumer inflation in June reached the highest level in 14 years, a swell that will put pressure on officials to consider how best to balance the possibility of interest rate hikes this year without hurting the local economy.
The consumer price index reached 3.59% last month, the Directorate General of Budget Accounting and Statistics said in a Wednesday statement. That’s roughly in line with the 3.6% rise in a Bloomberg survey of economists, and the highest level since August 2008.