commodity price 物價
Since the new workweek policy kicked off last December, businesses responded negatively and claimed they were seeking to raise prices to counteract rising personnel costs. However, Gorden Sun, director of TIER’s (The Taiwan Institute of Economic Research) economic forecasting center, said that countries around the globe were all in a similar situation while they were not burdened with any new workweek policy. The U.S., for example, saw the highest rise in commodity prices at 2.5 percent.
He also suggests that the rising price of commodities was the critical factor behind rising consumer goods prices. To combat price hikes, Taiwan’s industrial base must improve, undergo transitional measure and address the stagnant low-wage situation.