The previous forecast assumed an average international crude price of US$58.6 per barrel, but prices have surged to top US$100 per barrel as geopolitical tensions intensified, Chen said. Directorate-General of Budget, Accounting and Statistics Minister Chen Shu-tzu, left, speaks as National Audit Office Auditor-General Chen Jui-min looks on at a meeting of the Legislative Yuan’s Finance Committee in Taipei yesterday. Photo: Liao Chen-hui, Taipei TimesEvery 10 percent increase in oil prices would raise inflation by 0.24 percentage points and reduce economic growth by 0.12 percentage points, she said. If crude oil climbs beyond US$100 per barrel, representing a 70 to 80 percent jump, the CPI could rise by about 1.7 percentage points, pushing inflation beyond 2 percent, while GDP growth could slow by 0.8 to 0.9 percentage points, she added. The impact would remain limited if the Middle East conflict ends quickly, Chen said, adding that the government has already adopted price-stabilization measures to curb inflation.

Source: Taipei Times March 16, 2026 16:38 UTC