Price Increase Due to COVID and High Oil Price 物價上漲 楊金龍稱疫情及高油價所致

Despite growing concern among consumers, Central Bank Governor Yang Chin-long said Taiwan's price increases are controllable and solid economic fundamentals will keep inflation under check. In addition, Yang acknowledges that real estate price increase is nationwide and the real estate market control measures of the Central Bank can be further strengthened.  


Consumers have been complaining about the rising prices. Their fear of imported inflation is further compounded by the impact of the Russia-Ukraine war. However,  Central Bank Governor Yang Chin-long said that Taiwan's prices rises are acceptable compared to other countries, with February's consumer price index rising by 2.36  percent, which is below market expectations.

Lin De-fu, Legislator (KMT): “Because the Central Bank doesn't want the public to notice further price increases so it refuses to acknowledge that there is already high inflation domestically.”
Yang Chin-long, Governor, Central Bank: “Generally speaking, inflation means price increase pressure comparatively is higher. If last year the CPI was 1.96 percent, I believe it is still okay in comparison to other countries. Look at the US, its CPI reached over 5 percent and same as Europe and UK. In the past, like in 2008, our CPI was 3.5 percent, so CPI at 2 percent seems okay.”
 
Yang attributed this wave of inflation to three factors: supply and demand disruption, slowing-down of port operations, and oil price increases. He also admitted that the war between Russia and Ukraine will inevitably lead to price hikes for most commodities as both countries are exporters of not only energy but also farm products. While Taiwan faces increasing pressure from imported inflation, Yang said stagflation is unlikely to occur due to the island's solid economic fundamentals. In response to inflation, the Federal Reserve will increase interest rates earliest this month. As to whether Taiwan will follow, all awaits in earnest concern. 

Kuo Guo-wen, Legislator (DPP): “Governor, are you working on currency deflation step-by-step?”
Yang Chin-long, Governor, Central Bank: “We have over 500 billion in small and medium-sized enterprises loans which will be recovered at the end of June.”Kuo Guo-wen:“Yes, yes, yes.”
  
The government actively hunts down on real estate speculation, yet real estate price still continues to rise. Concerning this, Yang acknowledges that real estate price increase is nationwide and the real estate market control measures of the Central Bank can be further strengthened, including, among other potential options, enhancing controls over second units in districts with a higher rise in prices, or limitations on mortgage terms. 

 

 

 

 

國內物價漲不停,民眾是叫苦連天,加上俄烏戰爭的衝擊,也讓外界擔心國內通膨情況加劇,上午央行總裁楊金龍在立法院表示,近期雖然消費者物價指數有超過2%,但相較其他主要國家,國內整體物價來看也還算穩定。

國民黨立委林德福認為:「央行因為不希望民眾對物價上漲,所以說才不願意承認,國內已經有在高通膨的經濟狀況。」
中央銀行總裁楊金龍說道:「一般來說通膨是指物價的上漲壓力比較高,台灣去年物價漲1.96%,我覺得是還好啊,相較於其他的國家如美國、歐洲及英國物價漲5點幾%,或是與2008年的台灣漲3.5%相比,物價漲2%是還好的。」

楊金龍表示,國內這波物價上漲原因其中一個是疫情造成供需的落差,港口運作緩慢,再來是油價的上漲所造成,由於俄烏兩國不僅是能源也是穀倉的出口國,戰爭確實導致大宗物資的價格上漲,台灣面臨輸入性通膨壓力確實可能增加,但台灣經濟基本面還是好的,因此不會停滯性通膨,而因應通膨,美國聯準會最快將在這個月升息,台灣是否也會跟進也引發各界關注。

楊金龍表示:「我們本身的(對中小企業貸款)5千多億,我們在6月底之前我們就會收回來。」

民進黨立委郭國文詢問:「總裁你是有逐步性,去進行貨幣緊縮的工作對不對? 」楊金龍則回應「有有有」。

而政府積極打炒房,但國內房價仍持續飆漲,對此楊金龍坦言,近期房價上漲是全國性,央行房市管制措施確實還有精進的空間,其中包括針對漲幅較高的區域加強第二戶管制,或房貸年期的限制,都是可能的選項。
 

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