Taiwan's CPI in deflation in Q1

Taiwan faced greater deflationary pressure in March as prices fell for a third consecutive month, a similar pattern to the annual price declines of 2009 during the global financial crisis, Taiwan's statistical agency said on Wednesday.

The Consumer Price Index (CPI), a core measurement of inflation or deflation, dropped 0.61 percent from a year ago in March, compared with a year-on-year decline of 0.19 percent in February and a slump of 0.94 percent in January.

For the first quarter of 2015, the CPI fell 0.59 percent year on year, according to the agency.

Meanwhile, the Wholesale Price Index (WPI) recorded deeper price declines in March, falling 8.55 percent from the previous year, compared with a contraction of 8.49 percent in February.

On a monthly basis, the March CPI was down 0.22 percent but the WPI was up 0.08 percent from February.

Lower international crude oil prices, cheaper electronics products and fruit continued to drag on fuel costs in the local market, the agency said.

However, higher food prices in March offset some of the CPI declines. Endi