Consumers are already feeling the pinch in their wallets. Due to the global commodity fluctuations, everything is getting more expensive, including flour-based products, cooking oil and sugar. People are even putting down more bills for traditional foods to celebrate the upcoming Chinese New Year.

In light of reports that commodities prices will rise after Chinese New Year, many consumers are stocking up on goods at supermarkets.

The prices of flour, soybeans, and paper have increased 10% since last June, but stores likely won't be adjusting prices until after the holiday.

Wheat prices have increased 30% since last October, and the prices of instant noodles, flour, and noodles are also expected to rise 20% to 30% next month.

Cooking oil and sugar prices, meanwhile, are expected to rise around 8%.

Due to increased demand for butterfish during the holiday in both China and Taiwan, imports have fallen and wholesale prices are 100 NT per kilogram higher than the same period one year ago.

Higher demand and cold weather have also sent chicken prices soaring.

At present time, wild chicken is selling for 180 NT to 200 NT per 1 to 1.5 kilograms, which is 30% higher than the same period last year.

Analysts say that chicken prices will continue rising through the Lantern Festival.