Taiwan's inflation rate is expected to stay between 2 and 2.5 percent, a mild and stable level in the context of an economic growth rate in excess of 6.1 percent, according to government officials and analysts.
"This year the rise in the CPI may look steep, but this is because the base last year was low," Lii Sheng-yann (
According to data released by the Directorate General of Budget, Accounting and Statistics (
Contributing to CPI growth will be an expected rise in energy costs, with China Petroleum Corp (
Oil prices are likely to rise 3 percent in order to truly reflect the almost three-fold increase in international oil prices.
This hike would naturally have an impact on the CPI, Lii said, however the CBC could tolerate CPI growth this year of around 2 percent.
Wu Chung-shu (
According to Wu, a CPI growth rate over 3 percent in Taiwan is considered inflation, an occurrence seen during the 1992 to 1995 period when the stock and real estate markets were booming out of control.
"Right now, although the stock market is rocking high, the real estate market is still in its initial stage of recovery," Wu said.
Hu Chung-ying (
"Taiwan's current industrial infrastructure [in which high-technology industry now plays a major role] depends a lot less on the oil supply.
"This is very different from the time of the first and second oil crises," Hu said.
"Furthermore, the scale of the nation's economy has increased significantly since the oil crises happened."
According to the Directorate General of Budget, Accounting and Statistics, the nation's GNP is predicted to hit US$313.6 billion this year.
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