Academia Sinica to Launch Economic Forecasting and Data Platform by End of August

(Central News Agency reporter Pan Zhiyu, Taipei, July 13) Academia Sinica's Institute of Economics announced today that its newly developed 'Economic Forecasting and Data Platform' will officially launch by the end of August. The platform will provide historical economic forecast data, key macroeconomic indicators, and visualized charts, as well as inflation expectation data. It will also integrate academic resources such as research reports for public access and use.

Chang Chun-jen, Director of Academia Sinica's Institute of Economics, stated that the platform consists of three main sections: Economic Forecasting, Inflation Expectation Survey Zone, and Economic Database. The goal is to reduce data collection costs and enhance the quality of public economic discourse. He emphasized that the Inflation Expectation Survey Zone is a significant breakthrough and hopes it will attract greater public attention.

In recent years, global inflation has persisted due to factors such as the pandemic, rising geopolitical tensions, and global supply chain restructuring, increasing the difficulty of decision-making for government agencies. In this context, the accuracy of macroeconomic data in reflecting real societal conditions has become increasingly important.

Academia Sinica Vice President Peng Hsin-kun explained that the CPI compiled by the Directorate-General of Budget, Accounting and Statistics includes various categories such as durable and non-durable goods, which sometimes leads to discrepancies between the overall index and public perception. In contrast, the Institute of Economics' survey focuses on 'perceived prices,' aiming to better reflect citizens' actual experience of price changes.

Yang Shu-chun, a researcher at Academia Sinica's Institute of Economics, noted that the importance of inflation expectations is emphasized in economics textbooks, as expectations influence behavior and can lead to inflation becoming 'self-fulfilling.' Many advanced countries already have inflation expectation indicators, but Taiwan currently lacks one. She hopes that conducting this quarterly survey in sync with the release frequency of major macroeconomic data will allow it to serve as a reference for the central bank's policy decisions.

Director Chang Chun-jen indicated that the 'Economic Forecasting and Data Platform' is currently undergoing final testing and is scheduled to officially launch by the end of August. (Edited by Chang Liang-chih) 1150713

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