Despite various signs showing that the economy is improving, many people say that they are not benefitting directly from it, because their wages remain the same while the commodity prices keep rising. According to hypermarts, domestic prices for flour products, sugar and cooking oil are likely to soar soon in the near future, following the price increase of international raw materials.

Wheat prices have risen 30% since last October, and the prices of instant noodles, flour, and raw noodles are therefore expected to also increase by 20% to 30%.

Cooking oil and sugar prices are also expected to rise 5% to 8% and 7% to 8%, respectively.

Hypermarts have contracts with manufacturers, which means that they will not be under pressure to hike prices immediately.

However, if raw material prices continue rising, hypermarts may have no choice but to adjust prices accordingly.

Milk prices may also have to be adjusted due to rising feed prices, but farmers say that they are absorbing higher costs for the time being.

The Fair Trade Commission is already requesting import and sales invoices from companies to keep abreast of the situation and prevent collusion.

Although no abnormalities have been discovered, the FTC is reminding everyone that violations of the Fair Trade Act can carry fines of up to 25 million NT.

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