Some fast-food chains and restaurant services of all types have already bumped the prices of its menu items before the Lunar New Year holidays. Now even some chained beverage shops will also up the prices by around NT$5 by March.
The fast-food giant, McDonald's is introducing limited edition products that have consumers lining up. However, a lot of customers complained that McDonald's is getting more and more expensive.
The hourly salary in Australia is AUD$19 and it is just the basic salary. I can buy two meals with AUD$19 and have some money left. If the hourly wage is NT$158 in Taiwan, a set meal could be more expensive than that. So a meal equals an hour of labor. MacDonald's is a bit more expensive in Taiwan than in other foreign countries.
In fact, some fast-food restaurant chains have announced a price increase before the presidential election. Prices rose by an average of 3.4 percent for KFC, single order and set meal has increased by NT$3 to NT$10. The average increase for McDonald's Value Meal is 1.1 percent, around NT$1 to NT$5 increase for some products. However, some of the classic hamburgers have been lowered by NT$5. Other food service restaurants have also increased the price before the Lunar New Year. Starting from Jan. 12, the prices for potstickers from Bafang Yunji have increased about NT$0.5 to NT$0.8 each. Buffet restaurants at 5-star hotels like the Café at the Grand Hyatt Taipei and the Harbour Restaurant have also increased its price by 3 to 8 percent.
The eateries increase their price by NT$5 or NT$10. I think it's a bit too much.
Chained beverage shops are also hiking up their price after the Lunar New Year, including 50 Lan and CoCo. Beverage shops in some areas including central and southern Taiwan, are looking at an increase of NT$5 by Mar. 1.
The increase is NT$10 per cup, which exceeds the increase amount of the minimum wage. Most of the store owners can improve from within the organization. They should self-absorb the increase. This phenomenon only reflects the owners disregard the rights of the consumers.
The industry owners said the price hikes after the Lunar New Year are mainly due to the increased labor and material costs. The Consumer Protection Association calls on the Fair Trade Commission to investigate the matter to see if the food industry owners are taking advantage of the matter or if there's a joint price increase.