TAIPEI (TVBS News) — With rising inflation, dining out has become more expensive for many Taiwanese. Additionally, even frozen foods sold at convenience stores are experiencing price hikes.
Many have recently observed that frozen pot stickers and fried chicken have increased from NT＄30 to NT＄45, representing a 50% hike from their original price.
Convenience store frozen goods are popular among office workers and students in Taiwan. However, consumer prices have risen due to increasing costs and shortages of ingredients like eggs and meat. Chiou Jiunn-rong, an economics professor at the National Central University (NCU), explained why the situation affects even refrigerated goods.
"During typhoon days, the price of beansprouts increases even if they were not affected by the weather," he said. "This is due to the rise in the overall price of vegetables."
"Consumers tend to prefer bean sprouts when vegetables become more expensive, which increases the demand and price of bean sprouts."
The delicate balance of supply and demand underscores how workers' wages in Taiwan are failing to keep pace with rising costs.
According to the Directorate-General of Budget, Accounting and Statistics under the Executive Yuan, the average earnings of workers between January and February 2023 were NT＄45,206.
However, after adjusting for the increase in the consumer price index (CPI), this represents the most significant drop during the same period in the past decade.
To make ends meet, more people are taking on side jobs.
According to local job banks, approximately 32.5% of office workers have part-time jobs, with an average of 12.3 weekly hours.
As inflation continues to drive up the cost of living, a secondary or even third source of income is becoming necessary for many to maintain their current quality of life.
