Inflationary pressure continued into this year, with breakfast eatery chain My Warm Day announcing price hikes of NT$5-10 on 29 items effective Jan. 18.
A fast food breakfast consisting of a burger and beverage could soon cost NT$100 these days. Breakfast chain My Warm Day has announced price hikes, leading to consumer complaints.
Citizen: “The price hike of NT$10 (per item) is a lot. They keep raising their prices. I might go elsewhere for food.”
My Warm Day has 119 items on its breakfast menu, and the price hike of NT$5-10 will apply to 29 items. The price of a burger, currently at NT$35-40, will increase by 14 percent to NT$40-45. The price of noodle and rice dishes will also go up NT$10, or over 10 percent. The new prices go into effect on Jan. 18.
Tsai Kuo-hsien, Spokesperson of Breakfast Eatery Chain: “(The import costs) of pork, beef, mutton, cooking oil, flour, and paper packaging have all gone up. The prices of bacon and pork have gone up a lot. We will make some adjustments.”
Another brand under My Warm Day's parent company also announced price hikes. Fried Chicken Master is adjusting item prices by NT$4-10, and the price of its chicken cutlet by NT$6 to NT$75. The new prices also go into effect on the 18th. The Department of Commerce says its price inspectors looked into two chains that recently raised prices on the 10th and they will be tracing the upstream suppliers of three chains.
Liu Ya-juan, Spokesperson, Department of Commerce: “We want to understand the reason they raised prices. We need that data for analysis and we will ask the companies to provide that.”
The prices of everything are going up, but salaries in Taiwan remain low while falling. According to the Directorate-General of Budget, Accounting and Statistics, the average monthly real wage in Taiwan adjusted for inflation has fallen by 0.05 percent to NT$41,391. This was the first time in five years real wages saw negative growth and a reflection of Taiwanese people's plummeting purchasing power and growing struggle to make ends meet.