04.08.201623:57:00UTC+00Taiwan Inflation Accelerates More Than Expected In July

Taiwan's consumer price inflation accelerated for the first time in five months in July, and at a faster-than-expected pace, figures from the Directorate General of Budget, Accounting and Statistics showed Friday.

The consumer price index rose 1.23 percent year-over-year in July, faster than June's 5-month low of 0.9 percent increase. That was above economists' expectations for a 1.01 percent climb.

Food prices grew 5.54 percent annually in July and health costs went up by 0.73 percent. At the same time, transportation and communication costs dropped 1.26 percent.

On a monthly basis, consumer price edged up 0.22 percent at the start of the third quarter.

The statistical office also revealed that wholesale prices declined at a slower pace of 2.41 percent yearly in July, following a 2.77 percent fall a month ago.

The measure has been falling since September 2015. Month-on-month, wholesale prices slipped 0.57 percent.