RTTNews - Consumer prices in Taiwan dropped 1.97% year-on-year in June, faster than a 0.08% fall in the preceding month, the the Directorate-General of Budget, Accounting and Statistics said Monday. Economists expected a 1.5% fall in prices. Core consumer prices declined 0.61%.

Consumer prices declined mainly due to falling prices of fuels and lubricants, fruits, vegetables and meat as also falling education and entertainment fees.

Month-on-month, consumer prices were down 0.1%, after rising 0.42% in the preceding month. For the first half of the year, the consumer price index decreased 0.43% over the same period of the previous year.

Meanwhile, the wholesale price index or WPI rose 1.52% month-on-month in June, and was down 13.62% compared to the previous year. Economists expected wholesale prices to drop 14.44% on an annual basis. For the first half of the year, wholesale prices fell 11.29% compared to last year.

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