September 14, 2017 / 8:44 AM / a year ago

Taiwan salary hikes to boost CPI growth to 1.1 pct in 2018 -premier

Sept 14 (Reuters) - Taiwan expects civil servant and corporate salary raises of 3 percent to help bolster next year’s annual CPI (consumer price index) growth rate to 1.1 percent, Taiwan’s newly elected premier, William Lai, said on Thursday.

A 3 percent salary hike for government servants in 2018, coupled with an equal amount of hike by the private sector could bring about an average annual inflation (CPI) growth rate of 1.1 percent, Lai said at a press conference.

“(An) annual inflation rate of 1.1 percent is still considered mild,” Lai said.

From 2013 onwards, the average annual CPI rate has increased around 0.76 percent, he added.

According to another official at the press conference, Taiwan expects government and corporate salary rises to boost GDP by 0.6 percentage point next year. (Reporting By Jeanny Kao; Editing by James Pomfret and Gopakumar Warrier)

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