In Taiwan, a sharp fall in fruit and vegetable prices has caused consumer prices to drop for the first time in eight months, a government body said yesterday.
Fruit prices in August were down 7.21 per cent year-on-year, while vegetable prices fell 24.84 per cent compared to the year-earlier period thanks to stable weather conditions. The combined fall in produce prices drove overall consumer prices in Taiwan down 0.46 per cent in August compared to last year, the Directorate General of Budget said.
In August last year, fruit and vegetables were relatively expensive in the aftermath of a typhoon, the Directorate said.
In June, Taiwan's central bank raised its interest rates for the first time in two years as the economy recovered strongly from recession, boosted by higher exports, according to RTT News.
Taiwan's economy maintained double-digit growth in the second quarter of this year on the back of strong exports to China for its hi-tech products, RTT News said.
