Consumer prices fell last month for the third time in four months as property rents, winter clothing and electronic goods all became cheaper.
The consumer price index, which measures the cost of goods and services, fell a 0.79 percent from the previous month after climbing 0.78 percent in January, the Directorate-General of Budget, Accounting and Statistics said in a statement.
The figure wasn't seasonally adjusted.
From a year earlier, the index rose 0.64 percent.
Tame inflation may deter the central bank from raising its key interest rate from a record low at a quarterly policy meeting this month. Bank lending grew in January at its fastest pace in more than five years and the government predicts the economy will grow 4.7 percent this year, which would be its fastest expansion since 2000.
"Even though the economy's recovering, the central bank probably wouldn't immediately follow" with a rate increase because there is little inflation, said Maxwell Chen, an economist at Prudential Financial Securities Investment Trust Enterprise in Taipei.
Clothing prices fell 3.59 percent, and housing rentals declined 3.16 percent. The cost of educational and entertainment products fell 0.78 percent.
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