News
DGBAS expects little impact on inflation from Middle East conflict
The head of Taiwan's statistics bureau, the Directorate General of Budget Accounting and Statistics (DGBAS) does not believe that the Palestine-Israel war will have much of an effect on international commodity prices, but he cautioned that crude oil prices could be pushed higher and fuel inflation.
Chu Tzer-ming told the Legislative Yuan that the conflict between Israel and Hammas wasn't likely to impact the price of commodities, since neither side exports crude oil, or grains.
He warned, however, that crude oil prices could fluctuate depending on whether the conflict continued to worsen, how many countries it draws in, and how long it lasts.
Chu also noted that Taiwan's two-way trade with the region remained limited, which would also mitigate its impact on local economic indicators.
