Major commodities reach new price high: Consumers' Foundation
By Linger Liu,The China PostTAIPEI, Taiwan -- The Consumers' Foundation (CF) said yesterday that the prices of six different commodities — eggs, toothpaste, rice, cooking oil, bread and shower gel — have reached a new high.
February 21, 2013, 12:04 am TWN
The CF said the retail price of eggs rose to NT$ 42.52 per catty in 2012 from NT$39.88 in 2011. The price growth ratio was up to 7 percent, the CF said.
Toothpaste also reached a new price high, the CF said. Toothpaste was NT$96.36 per tube in 2011, and grew to NT$102.95 per tube last year. The CF said the price also increased around 7 percent.
According to the CF, the average prices of rice, cooking oil, shower gel and bread were also found to have increased slightly in major hypermarkets and supermarkets.
Government Should Control Increasing Prices
The survey indicated that the average prices of rice increased by 3 percent, cooking oil, shower gel, and bread all rose 1 percent, as did soy sauce, said the CF. According to the foundation, the growth of rice prices currently stands just under the increase for eggs and toothpaste.
Foundation Chairman Mark Chang (張智剛) said eggs and cooking oil both have seen consecutive growth in recent years, leading to a decrease in household consumption.
According to the CF, to stabilize the hike in commodity prices the government should have responded to retailers and wholesalers' actions which keep the prices high.
The chairman said the government reduced tariffs to stabilize the price of imported infant formula, but the price did not decrease and remains high.
He said infant formula suppliers claim the price rise was due to the increasing cost of ingredients and the new recipe for the formula. Chang said the government should apply a more efficient method to stabilize the price inflation, not just through tariff reductions.