Taiwanese workers feel that inflation is impacting their personal finances, despite a major indicator of inflation reaching lower levels. That’s according to a survey released by online Job Bank Yes123 on Friday, which showed that 73% of respondents believe inflation harmed their personal finances in the past year. The latest figures from May show that the Consumer Price Index (CPI) fell below 2%.
Among the 45% of surveyed office workers who rent houses, the average monthly rent is NT$10,525, and 60% of renters say their rent has increased since last year. The survey indicated that office workers spend an average of NT$7,768 per month eating out, an increase of 65% over the previous year. In the face of these pressures, 83% of survey respondents reported feeling stressed, while nearly 80% of employers admitted that this year’s operations will be "negatively impacted" by inflation.
Yes123 spokesperson Yang Tsung-pin (楊宗斌) says that given the average monthly salary of NT$45,000 and a 2% CPI, businesses should raise their monthly salary by at least NT$900 in order to keep up with inflation. However, only about 23% of businesses reported having a salary adjustment mechanism.