Taiwanese Consumers See 8.77% Cost Rise as Energy Prices Jump
Updated
Updated · Focus Taiwan · Jul 13
Taiwanese Consumers See 8.77% Cost Rise as Energy Prices Jump
3 articles · Updated · Focus Taiwan · Jul 13
Summary
8.77% is the average rise Taiwanese consumers expect in living costs over the next year, with 63.17% of respondents in Academia Sinica’s March survey anticipating higher prices.
U.S.-Iran conflict drove that shift in sentiment by lifting global energy prices and raising transportation and petroleum-related costs before the pressure fully showed in official data.
1.20% was Taiwan’s March CPI increase, but inflation later crossed the government’s 2% warning line in both May and June, while the June import price index surged 23.07% in Taiwan-dollar terms.
15.87% was the expected increase for transportation and energy costs, the steepest among categories, followed by food and dining at 12.54%.
53.11% of respondents still expected home prices to rise over the next six months, while the institute said the government’s NT$10,000 cash handout would likely do little to lift demand because its estimated consumption effect was low.