Faced with the challenges of fluctuating raw material prices, rising electricity prices and lack of jobs, the island’s catering industry could not stand it and announced price increases one after another.
Taiwanese chain restaurants, which specialize in the civilian category of dumplings and pot stickers, announced on the 9th that they will adjust the prices of some products from the 10th, Taiwan’s industry and Commerce Times reported on the 10th, dumplings and pot stickers each rose 0.4 to 0.5 yuan (nt $) , an average increase of 6% to 7% . Another brand chain, “Liang Shehan”, also saw a 6 per cent rise in rib items, with single-order fried and spareribs rising from 88 yuan to 95 yuan.
Coincidentally, Taiwan, the group’s popular buffets“Enjoy”“Xu set” also announced the increase. According to the announcement on the official website, due to the increase in operating costs, the prices of some meals will be adjusted from August 12, with the average Monday-friday afternoon meal rising from 990 yuan to 1,090 yuan per person. Taiwan“Economic daily” said, after the price increase, the feast, Xu set full-time meal costs will break thousand. Bearded Zhang, KFC, Burger King, Mandalay, Din Tai Fung and the Hanlai Harbour Buffet, part of the Hanlai Gourmet Group, Rose in the first half of this year, the industrial and commercial times said Monday, the group is the first chain restaurant group to announce a price increase in the second half of this year.
The island’s people feel strongly about rising prices. A Netizen shared that he bought a packed lunch at a buffet in Pingzhen, Taoyuan, recently and chose four dishes, including braised ground meat, kang meat, Goryeo dishes, poached eggs and white rice. A packed lunch costs 220 yuan, the Netizen asked the boss why it was so expensive, and the other person only replied, “Meat is very expensive now.”. After posting, many netizens exclaimed, “This 220 to rob faster”, “Meat sold at this price is really super expensive”.
On July 5, Taiwan’s Directorate-General of Budget, Accounting and Statistics Consumer Consumer Price Index Rose 2.42 per cent year-on-year in June, a nearly four-month high and a sign of rising inflation. In the first half of this year, the island’s inflation rate of 2.27% , still broke the 2% warning line. Cao Zhihong, a special member of the general statistics department of Taiwan’s“General Accounting Office”, said the increase was mainly due to a 22.6 per cent rise in fruit prices, which hit a new high in the past two years due to the recent rainy season and last year’s low base period, that pushed the overall food sector up 4.16 percent. In addition, the continuing effect of rising electricity prices in April, coupled with the switch to summer electricity prices in June, led to a rise of 5.21 per cent in June, up from 4.48 per cent in May. The island’s rent rose 2.59 per cent in June, the highest in 28 years, while medical costs rose 6.24 per cent in June, the highest in 18 years, Cao said. The annual increase in the cost of food of public concern is 2.78% , and the trend is still higher than 2% . Cao Zhihong said that rent, food, medical expenses, entertainment services, these four CPI in June continued to exceed the warning line (2%) key, impact of more than 70% .
Lin Chu-chia, an adjunct professor at the Department of Economics at Chengchi University, wrote on the 9th that CPI has risen by more than or close to 2 per cent a year for the past four years, a rare phenomenon for many years, because wages are rising so slowly in Taiwan that inflation is now outpacing them, “The vast majority of workers are earning less in real terms, and everyone is a victim of inflation.”.
Lin Chu-chia also said that on the 27th of this month, the No. 1 unit at Nuclear No. 3 plant will be shut down, and that Taiwan will have to use more expensive ways to increase its power. The cost of generating electricity will be higher, and Taiwan electric power will lose more money, there will naturally be more pressure to adjust electricity prices. On the other hand, the opening of medical institutions to self-determination of registration fees was also a factor in pushing up medical prices, the highest increase in the past 18 years. Given all this, inflation is likely to be worse in the second half of the year than in the first if the William Lai Administration does not respond quickly and effectively.
Lin Chu-chia said one of the main reasons for the recent rise in electricity prices was the DPP authorities’ rapid discontinuation of nuclear power, and that the whole population was now paying the price for their “Non-nuclear homeland”, “If the authorities really don’t have the ability to control prices, then try to speed up the increase of the minimum wage and salaries of military and civil servants, at least so that workers’ salaries are not eaten up by the ‘inflation monster’ .”