Food price hikes beginning to bite, ihergo poll says

Staff Writer, with CNA





More than 98 percent of consumers said they are feeling the bite of food price hikes, according to the results of a survey released by group purchasing Web site ihergo on Monday.

Of the 644 respondents who provided valid responses to last month’s survey, 98.8 percent said their spending on food and beverages had gone up, ihergo said.

Food prices have been on the rise in Taiwan, in part a reflection of new work rules implemented in December last year that gave employers less flexibility to arrange work schedules and added to labor costs.

Asked which vendors had hiked their prices the most, 33.5 percent said night market stalls and noodle or boxed lunch restaurants.

Another 31.7 percent said bakeries had implemented the biggest price increases, while 16.5 percent said upmarket restaurants were the biggest culprits and 10.1 said beverages, ihergo said.

In terms of respondents’ daily spending on food, 42.2 percent said they spent between NT$200 and NT$300 per day, 28.4 percent said they spent less than NT$200 per day and 17.2 percent said they spent between NT$300 and NT$400 per day, the survey found.

Asked what they would be willing to forgo to limit their expenditure, 50 percent of respondents said they would be willing to skip snacking at night which they thought was unnecessary, but 14.1 percent said they would find it difficult to give up coffee or other drinks, ihergo said.

In the first quarter, Qiaoda Sea Foods, Mei & Mei Foods and K&K Foods, all of which supply ingredients, posted the largest growths in sales on its Web site, ihergo said, adding that the figures show that more consumers are now cooking at home to save money.

Consumers with monthly incomes of between NT$30,000 and NT$35,000 were the fastest growing segment on its Web site, followed by those earning monthly incomes of between NT$35,000 and NT$40,000, ihergo said.