Recently on the Taiwanese news everyone is blaming current president Ma for prices of goods and services to be increasing too fast. When he was elected for the 2nd term, he promised an economic stability and better living quality for Taiwanese people. So far, all I can say these promises were false, probably spoken as a election talks to get enough votes to secure his position for another couple years. Since president here can only be elected twice, now the fruits can be observed.
How bad does it get? Bad, to the point many voters want to vote for President Ma to step down. Will this happen? Hard to say, but in my opinion, no - it is really too difficult to push it, and while most poorer folks are loosing due to price hikes, some do profit.
What is my take on this? Well, this is the way I see it:
- Gas prices went up by 10-15%. That's about extra NT1000 for me a month spending
- Coffee in 7/11 went up by 10% from NT50 to NT55. What I do? I don't drink it anymore.
- Coke in 7/11 went up from NT25 to NT29
- My favorite fry rice from NT70 to NT80.
- It get worse, 5 years ago I could buy 10 dumplings for NT35, today? NT50-80!
I go to supermarket, like Carrefour, or market, vegetables, fruits, meat all went up (mainly due to prices of gasoline.) On average, everything cost much more than just few months ago.
House market? Tripled in last 3 years. That means higher rent to pay or higher mortgage if you buying a house.
Now, what about the salary? Usually when the price go up, salary slowly increases as well. Unfortunately, for locals, the salary stays the same. What about foreigners? Suppose you are an English teacher - 5 years ago without experience you could make about NT600 per hour. Today? Same or less.
If couple years ago you were making here NT50,000 to NT70,000 a month as English teacher, that would be considered a lot. Today? Try to stay home, cook, have some entertainment - maybe you will save up enough for tickets back home. Compared to locals, who usually make NT25,000-NT35,000 after graduation, it is a lot, but considering they are staying with their family, so no need to worry about food and all the bills, it is really hard to save now.