EASING: An official dismissed concern over deflation, as the pace of price declines has been slowing and inflation might return to positive if oil prices stabilize
Taipei Times
Date: Sep 09, 2020
By: Crystal Hsu / Staff reporter
People pass by an outlet in Taipei yesterday. The Directorate-General of Budget, Accounting and Statistics announced that the consumer price index last month rose 0.18 percent from the previous month, but fell 0.33 percent from a year earlier.
Photo: CNA
It was the seventh straight month that consumer prices had declined, but the retreat has been tapering off as shopping, dining and domestic tourism pick up, the statistics agency said.
“The inflationary gauge might return to the positive zone if international oil prices stabilize, as the virus outbreak’s effects on consumer activity have wound down,” DGBAS Senior Executive Officer Chiou Shwu-chwen (邱淑純) told a media briefing.
The trend shows that there is no need to worry about deflation, given that the pace of contraction is slowing, Chiou said. [FULL STORY]
