The government’s statistics bureau says it expects restaurants to continue raising prices after the Lunar New Year, with a possible peak around March.
That comes as the bureau released data Thursday showing that the cost of eating out in Taiwan went up 2.39% in December. That’s the highest increase in 81 months. Certain types of popular eateries in Taiwan hiked prices even higher– the bureau says that hot pot restaurants and traditional breakfast shops raised their prices by over 4%.
The bureau says that rising prices are a reflection of rising costs, particularly the cost of imported meat products. Many restaurants are set to raise prices even further once the Lunar New Year ends—they are holding off for now due to government policies designed to keep prices under control. Still, the bureau says that the steady increase in prices at restaurants won’t go on forever. The bureau expects a stabilization of vegetable prices will stop further price hikes by the second quarter of the year.