In the latest economic predictions released by the government, the estimated annual economic growth rate has been adjusted down to 4.92%.

In addition, due to the international price hikes in petroleum and food grains, the consumer commodity index is expected to rise by 2%, which will be mostly reflected in the category of food products.

Just before Chinese New Years, prices of fish and vegetables soared, along with instant noodles and salad dressing after the holiday.

It's causing many disgruntled shoppers.

The continual increase in pricing of international raw materials is even affecting domestic commodity pricing.

Some consumers are worried baby formula will be affected as well, and opted to buy several cans to store at home.

According to the Directorate-General of Budget, Accounting and Statistics, the value increase of the NT dollar has been canceled out by increasing commodity prices.

In the face of increasing international grain and petrol prices, the Directorate-General of Budget, Accounting and Statistics estimates that the annual consumer commodity index will increase by 2%.

It is also estimated that Taiwan's GDP and GNP this year will both exceed the 20 thousand US dollar mark.

As for the economic growth, the 5.03% that was estimated in January will be amended to 4.92%.