Inflation in Taiwan Hits a Nine-Month High

Taiwan households are feeling the pinch as inflation hits a nine-month high, with agricultural losses from typhoons pushing up food prices.

Transcript

00:00 Across Taiwan, small businesses like this one are struggling, feeling the heat from

00:08 rising prices.

00:09 "In terms of sugar and butter, the price has increased by 20 to 30 percent.

00:14 The biggest increase is probably eggs, which is about 30 to 40 percent.

00:17 We will try to absorb this cost."

00:19 Taiwan's Consumer Price Index, or CPI, rose more than 3 percent in October, the biggest

00:24 jump in nine months.

00:25 "The typhoon has affected the fish industry.

00:30 The price of vegetables and fruits has continued to rise.

00:32 The second wave of the typhoon has affected the October CPI, by 0.63 percent.

00:36 The oil price has increased by 4.34 percent, which is a little higher."

00:40 It's not just the weather pushing up prices.

00:44 The war in Ukraine has caused fuel prices to jump and prompted inflation across many

00:48 countries.

00:49 "The global economy is still in a high-inflation and high-interest environment.

00:53 The economy in mainland China is still in a soft position.

00:57 The geopolitical issues are still being discussed."

01:04 With two months to go before the national elections, the rising cost of living here

01:08 has become a hot political issue, with presidential candidates offering solutions like rent subsidies,

01:14 utility price freezes and minimum wage hikes in a bid to secure votes from households feeling

01:19 the pinch.

01:20 Plan 1 and rig out for Taiwan Plus.

01:23 - Don't stop! - March again!

01:25 - Don't stop!