Oil, commodity price hikes cost locals dearly: survey


TAIPEI, CNA

Surging oil and commodity prices have incurred a combined estimated extra expenditure of NT$46 billion (US$1.4 billion) per month for local people aged over 18, according to the results of a survey released by a local magazine yesterday.

The Global Views Monthly magazine conducted the telephone survey among 1,012 randomly chosen Taiwanese citizens over the age of 18 Aug. 12-14, with a margin of error of 3.1 percentage points.

High oil prices are blamed as the culprit of the recent inflation, the magazine said in its latest issue. Prices for many consumer items, such as dairy products, flour and other food ingredients among other commodities, have surged recently.

According to the survey results, 81 percent of the respondents said gas and commodity price hikes have adversely affected their lives, while another 38 percent described the impact on their lives as “huge.”