Taipei, July 19 (CNA) The Chung-Hua Institution for Economic Research (CIER), one of the leading think tanks in Taiwan, on Tuesday lowered its forecast for the nation's 2022 GDP growth to 3.56 percent, due mainly to concerns over inflation and the fallout from COVID-19 on the domestic economy.
Taipei, July 18 (CNA) Academia Sinica on Monday lowered its forecast for Taiwan's GDP growth in 2022 from 3.85 percent forecast late last year to 3.52 percent, due to the changing political and economic situation at home and abroad.
Academia Sinica yesterday trimmed its forecast for Taiwan’s GDP growth this year from 3.85 percent to 3.52 percent, while raising its inflation forecast from 2.04 percent to 3.16 percent, saying the economy is losing momentum due to rising consumer prices and other downside risks.
“The economic performance for the rest of this year will not be as smooth and optimistic as previously predicted,” Academia Sinica research fellow Ray Chou (周雨田) told an online news conference, citing an overheating US economy, the Ukraine war, China’s COVID-19 lockdowns and supply chain disruptions.
Global inflation has been rising and major central banks are tightening monetary
By Crystal Hsu / Staff reporterThe consumer price index （CPI） next year would rise above the 2 percent alert, and not decelerate as other institutes have forecast, because producers and retailers would pass mounting cost burdens on to customers, Academia Sinica said yesterday.
The consumer price index (CPI) next year would rise above the 2 percent alert, and not decelerate as other institutes have forecast, because producers and retailers would pass mounting cost burdens on to customers, Academia Sinica said yesterday.
The inflationary gauge would be 2.04 percent next year, compared with 2.01 percent this year, as companies would boost selling prices to reflect rising costs, with the spillover effect extending to end consumers, Academia Sinica research fellow Ray Chou (周雨田) told an online news conference.
Academia Sinica is the only economic research institute in Taiwan to have forecast domestic inflation of more than 2