Inflation rate to remain mild this year: central bank
Jan 04, 2017LegalComments Off on Inflation rate to remain mild this year: central bank
Inflationary pressure in Taiwan will remain mild in 2017, even after a recent increase in workers' salaries in line with the amended Labor Standards Act, Central Bank Governor Perng Fai-nan (???) said Wednesday.
In a news briefing hosted by the Cabinet, Perng said the increase in consumer prices this year will be between 1.26 percent and 1.46 percent, still within an acceptable level. With the implementation of new labor regulations at the beginning this year that have increased overtime pay for workers, businesses in Taiwan have been raising prices to offset the higher labor costs.
However, the higher costs within the manufacturing sector will account for only 0.1 percent of total operating costs annually, which is an acceptable level, according to the National Development Council.
The press conference was attended by officials from the Ministry of Labor, the Ministry of Economic Affairs, the Central Bank, the Directorate General of the Budget, Accounting and Statistics (DGBAS), and the Fair Trade Commission.