(RTTNews) - Taiwan’s consumer price index or CPI dropped 0.81% year-on-year in August, the Directorate General of Budget, Accounting and Statistics said on Monday. Economists were looking for a decline of 1.01%.

On a monthly basis, the CPI increased 1.80% in August.

The core CPI decreased 0.78% on an annual basis in August and it was down 0.02% compared to the preceding month.

For the first eight months of the year, the CPI decreased 0.72% compared to the same period of the year.

The wholesale price index or WPI dropped 11.24% year-on-year in August and it was up 2% compared to the previous month. Economists were looking for an annual decline of 12.38%. In the January to August month, the WPI decreased 11.67% over a year ago.

Meanwhile, export price index declined 7.99% year-on-year in August, while it rose 1.36% compared to the prior month. Similarly, import prices fell 12.47% on an annual basis and increased 2.09% compared to the previous month. For the first eight months of the year, export prices and import prices decreased by 7.94% and 13.76%, respectively.

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