Taiwan’s statistics directorate plans to try calculating the Consumer Price Index (CPI) for families with elderly members. The directorate announced the plan on Monday, saying the results can help Taiwan better understand the financial pressure that older families face.
The National Development Council predicts that Taiwan will be a super-aged society by 2025, meaning that at least one-fifth of the population will be 65 or older. The statistics directorate wants to investigate how older households’ consumer patterns and reactions to rising prices may be different from those of younger people.
Taiwan tried to calculate the CPI for the elderly starting in 1996, but stopped after several years because the elderly’s and general population’s CPIs were about the same. But the directorate says it may need to reevaluate the definition of “elderly household” and other factors for future calculations.
The directorate adds that the CPI for elderly people may be higher due to medical care costs. It says the United States and Japan have dealt with similar situations, and Taiwan will pay attention to how other countries respond to the changing needs of aging populations.