price hikes 結果共24筆

Lukang Old Street Business District chairperson Huang Shih-chieh expresses concern over rising electricity costs and their impact on food vendors, who may absorb cost increases to avoid raising prices due to declining consumer purchasing power, potentially leading to a vicious inflation cycle.

DPP Legislator Rosalia Wu questions Legislative Yuan’s responsibility in case of Taipower collapse, prioritizing people’s livelihoods. KMT and TPP propose freezing electricity price hikes amidst Ministry of Economic Affairs’ decision to increase prices by 11% on April 1. DPP counters with cross-party negotiation pullback to address unreasonable proposals.

Central Bank Governor Yang Chin-long discusses Taiwan’s mild inflation rate amidst potential electricity price hikes and the Legislative Yuan’s move to require approval for such adjustments. The KMT calls for more public oversight in price changes.

Taichung Mayor Lu Shiow-yen addresses the impact of rising electricity prices on the city’s annual costs, emphasizing the need to safeguard public transportation and essential services from the effects of the 11% price hike set to take effect in April. The Taichung Metro company plans to mitigate the anticipated 14% increase through cost-saving and energy-efficient measures.

Taiwan’s Minister of Economic Affairs, Wang Mei-hua, addresses concerns over potential water and electricity price hikes. Wang assures no immediate plans for water price increases and remains cautious on addressing the issue. Legislators advocate against compounding effects of electricity rate hikes and warn of potential inflation spikes. Discussions continue on balancing household electricity costs and industry consumption subsidies.

Minister of Economic Affairs Wang Mei-hua discusses electricity rate adjustments in Taiwan, emphasizing the impact on household usage below 330 kilowatt hours. Kuomintang Legislator Yang Chiung-ying opposes price hikes, proposing solutions to address citizen hardships amid inflation. Wang highlights considerations for nuclear power and renewable energy costs, amidst concerns over safety regulations and nuclear waste. Yang challenges Taipower’s deficits and criticizes passing on costs to residents through price increases.

Taiwan Power Co. (Taipower) faces a potential financial crisis by year-end without government aid or electricity price hikes, warned Minister of Economic Affairs Wang Mei-hua. An upcoming electricity price review may see rates for ultra-high-voltage users surge by over 10%. Wang emphasizes the need for discussion in the committee meeting and assures efforts to minimize impacts on the public. Taipower’s efficient management has helped curb price spikes and inflation, with plans in place for financial support and program development. Current electricity costs for major consumers stand at around NT$1.63, while Taipower’s generation cost, pre-tax, is NT$3.93, expected to surpass NT$4 post-tax.

Taiwan Premier Chen Chien-jen emphasizes Taipower’s role in stabilizing commodity prices amid global challenges, promising transparency in future electricity rate adjustments. The upcoming electricity price review committee may lead to inclusive price hikes, citing the impact of the Russia-Ukraine conflict on raw material costs. Chen underscores Taipower’s efforts to control expenses and enhance efficiency while ensuring public understanding of any changes in electricity charges.

Taipei City Government to increase lunch subsidies for underprivileged high school and vocational students from NT$55 to NT$65 per day in response to rising prices. The expanded subsidy scope now includes first- to third-year specialist college students. Approximately 17,500 students are expected to benefit from this program, with a budget of NT$8.5 million allocated for lunch expenses.

The Minister of Economic Affairs, Wang Mei-hua, plans to help Taiwan Power Company (Taipower) seek budgetary support from the Executive Yuan to alleviate its financial distress. Taipower reached out to the Ministry of Economic Affairs (MOEA) for assistance, citing escalating international fuel prices caused by the Russia-Ukraine war. Other global power companies, such as Korea Electric Power Corporation (KEPCO), Tokyo Electric Power Company (TEPCO), and Électricité de France (EDF), have already experienced significant price hikes. Taipower’s rates are relatively low compared to the cost of power generation, resulting in policy-driven losses. As of 2023, Taipower has accumulated losses of NT$382.6 billion due to absorbing price increases to protect Taiwan from global inflation. The MOEA disclosed that Taipower and the CPC Corporation have discrepancies in predicting natural gas prices, leading Taipower to observe international coal prices for cost estimates in 2024. While mitigating Taipower’s financial woes in the short term poses challenges, Wang aims to prevent further losses. The MOEA will assist Taipower in lobbying the government for budget support once financial situation estimates are finalized. The decision to adjust electricity prices will be made by the Electricity Price Review Committee.

The Taiwan Higher Education Union (THEU) has criticized the government for playing a false game with wage increases. While civil servants, including military and education personnel, are set to receive a 4 percent pay increase next year, over 21,000 technical and administrative staff at universities, about 70 percent, remain unsure of their raises. This uncertain group includes employees at private universities. The THEU believes that the government should not leave salaries of non-certified staff to the discretion of universities, as it causes division and lowers morale. Only around 9,000 public employees out of the approximately 31,000 full-time staff members at universities and colleges are certain about their pay rise next year. The THEU is concerned that the hardships of grassroots workers in tertiary education institutions are being overlooked amidst the upcoming presidential elections. They urge that national wage increases should apply to all university staff, with appropriate subsidies provided.

Taipei’s Acting Minister of Agriculture, Chen Junne-jih, announced the implementation of a specialized avian influenza prevention program in September, including increased testing frequency to monitor the disease. This comes in response to recent outbreaks in Japan and chicken farms in Yunlin County, raising concerns about egg price hikes and shortages. Chen warned that the situation may worsen with the expected drop in temperature next week. Taiwan has been conducting active and passive surveillance for avian influenza since September, focusing on high-risk areas near migratory bird paths and implementing biosecurity measures at poultry farms. Chen assured that the country’s egg production capability has recovered since the shortage earlier this year, with reserves of liquid eggs available for emergencies. Domestic egg reserves will be released first in the event of increased market demand, with the import of liquid eggs only considered if a severe outbreak leads to a supply shortage. Chen emphasized the importance of maintaining appropriate stock levels through the imported egg project to ensure a stable egg supply despite the challenges posed by avian influenza.

Western Digital Corporation (WD) has announced that it will increase prices in response to the recent price hikes in the memory chip industry. Following Samsung’s 20% price increase, WD has informed its downstream channels and contract manufacturers that hard drive products will be subject to weekly price reviews, with adjustments expected to begin in the first half of next year. The company has projected that the cumulative increase in NAND Flash prices could reach up to 55%. These price increases align with the World Semiconductor Trade Statistics (WSTS) organization’s projection of a 44.8% revenue growth in the memory market for the coming year. Market research firm Gartner has estimated an even more significant surge, predicting a 66.3% increase in memory market revenue. While this suggests a strong demand for memory products, it also indicates rising costs for manufacturers and potentially higher prices for consumers in the technology sector.

The Ministry of Agriculture (MOA) in Taiwan has announced that starting in January next year, food service businesses will only receive rewards up to NT $14 per serving if they agree to use organic or traceable agricultural products for 12 varieties of fast-growing vegetables, including bok choy and water spinach. However, the catering industry has expressed concerns about potential price increases during typhoon seasons or cold weather, which could make certified and organic products even more expensive. In response, MOA officials have confirmed that subsidies will be offered to mitigate the impact of vegetable price hikes, with school lunch allowances per serving potentially increasing from NT $3.5 to NT$10, and remote schools eligible for an allowance of up to NT $14 per serving. Chen Mig-hsin, Director of Taiwan’s Food Catering Association, has called for the approval of integrating QR-code usage for verified products during natural disasters, emphasizing the need for additional reward systems to better prepare domestic food suppliers for weather disturbances. Agriculture and Food Agency (AFA) Deputy Director Su Mao-hsiang has acknowledged the efforts made by catering businesses to support the MOA’s goals of promoting healthy and affordable school lunches. Currently, over half of the 3,800 tons of vegetables purchased weekly are organic and traceable products, and Su anticipates that the expanded purchase of healthy agricultural foods will further incentivize farmers to produce them.

Taiwan Central Bank Governor Yang Chin-long addressed the Legislative Yuan’s Finance Committee, leaving open the possibility of further interest rate hikes. While rates in the U.S., U.K., Europe, Canada, and Australia are near their peak, Taiwan is approaching its high point. Previous inflation spikes were caused by typhoon impacts, leading to speculation about rate hikes. The Consumer Price Index (CPI) increased by 3% in October. The Central Bank’s council members unanimously decided to temporarily halt rate raises, but some members agreed to suspend hikes for only one quarter, suggesting aggressive responses to future inflation are possible. Market watchers are observing whether interest rate hikes might resume in December if inflation surpasses 3%. Yang attributed the current inflation to typhoon impacts, particularly rising vegetable and fruit prices, and promised close observation of rate raises in the fourth quarter. Economic growth is expected to remain above 2% this year, but the fourth quarter may see a downward revision to 1%.

Driven by recent imported egg controversies, the increasing egg prices in Taiwan have raised concerns. Heightened demand for domestic eggs has outpaced supply, leading to historic price hikes.

Premier Chen Chien-jen delivers a special report to the Legislative Yuan addressing the controversy surrounding egg imports on Friday (Sept. 22). Acknowledging oversights and expressing regret for the social disturbances caused by the emergency importation, Chen hopes to appease the public’s anger by vowing to implement reform.

With summer approaching, Taiwan is preparing for another electricity hike.​​​​​​​ In early April, the average industrial electricity consumption price rose by 14.2% from NT＄2.91 to NT＄3.38 per Kilowatt-hour.

With rising inflation, dining out has become more expensive for many Taiwanese.　Additionally, even frozen foods sold at convenience stores are experiencing price hikes.

Residents of apartment complexes in Taiwan are bracing for a double whammy of rising electricity bills and management fees following the recent electricity price hikes by Taiwan Power Co. (Taipower) in April.

The Taiwan Council of Agriculture (COA) has decided to put a stop to egg price hikes, despite a shortage of 4.6 million eggs. 

Despite price increases of up to 20%, Chinese New Year celebrations are still in full swing 

Kentucky Fried Chicken (KFC) chain stores in Taiwan hiked their prices on Thursday (Dec. 22) amid reports of soaring inflation.

Taiwan’s most famous dumpling chain store Din Tai Fung will raise prices by 4% starting on Nov. 22.