Inflation rises for eighth consecutive month in February

 

 

Consumer price index (CPI) or inflation rate increased for the eighth consecutive month to 0.42% in February, according to the Commerce Ministry’s Trade Policy and Strategy Office (TPSO).

 

The increase was attributed to the back of a recovery in the people’s purchasing power and increased demand for products and services in the country.

 

Pimchanok Vonkorpon, the TPSO director, said the improved demand has caused prices for products and services, particularly those in Bangkok and other areas in the central region, to rise.

 

Full story: http://englishnews.thaipbs.or.th/inflation-rises-eighth-consecutive-month-february/

 

 

-- © Copyright Thai PBS 2018-03-03

 

Quote

The increase was attributed to the back of a recovery in the people’s purchasing power...

I'm sure many Thais would say they missed the memo that their purchasing power had increased like through a higher paycheck.

32 minutes ago, Pib said:

 

I'm sure many Thais would say they missed the memo that their purchasing power had increased like through a higher paycheck.

I really don't understand how lack of purchasing power can increase inflation.

 

I always thought that inflation was calculated based on a group/basket of pre set products and their price.

 

Higher salary can increase inflation of course as it could make products more expensive.. but again that is then seen by a higher price of the group of products (pre set) 

3 hours ago, robblok said:

I really don't understand how lack of purchasing power can increase inflation.

 

I always thought that inflation was calculated based on a group/basket of pre set products and their price.

 

Higher salary can increase inflation of course as it could make products more expensive.. but again that is then seen by a higher price of the group of products (pre set) 

Well there is difference between

 

- how the world works

- how Thailand works

 

Let's have a moment of silence for the ever increasing prices of imported goods while Thai baht is getting stronger and stronger

Prices are pretty much on par with Australia now.  Things like bread milk are actually a lot cheaper in Australia

6 hours ago, Thechook said:

Prices are pretty much on par with Australia now.  Things like bread milk are actually a lot cheaper in Australia

Food for falangs ... what else would you expect?

19 hours ago, robblok said:

I always thought that inflation was calculated based on a group/basket of pre set products and their price.

It gets more confusing:

"Cost of food in Thailand fell by 0.16 percent in February of 2018 over the same month in the previous year."

The increasing inflation rate is slowing to almost August 2017 level of 0.32.

https://tradingeconomics.com/thailand/food-inflation

 

3 hours ago, mfd101 said:

Food for falangs ... what else would you expect?

why eat Farang food .

I dumbfounded by the lack of knowledge of the current crop of responders. Basically you have to understand who is benefitting from the current monetary policy of the government. The timing will also be crucial for any change depending on how secure the big cheese becomes as the election approaches

0.42%, that's annually too. Hardly much of a rise.

 

 

3 hours ago, mikecha said:

why eat Farang food .

Precisely.

6 hours ago, Srikcir said:

It gets more confusing:

"Cost of food in Thailand fell by 0.16 percent in February of 2018 over the same month in the previous year."

The increasing inflation rate is slowing to almost August 2017 level of 0.32.

https://tradingeconomics.com/thailand/food-inflation

 

 

I understand what is written there and makes sense (food is subjected to inflation and often included in inflation calculations). You can have a month going down and still have overall inflation so that does make sense to me (or at least its possible) Wages are just not taken into account directly (unless of course they influence the products but its the price of products that is measured).

 

Anyway not important at all.. just an other case of bad reporting or people not understanding how economics work. 

14 hours ago, jonstarjon said:

I dumbfounded by the lack of knowledge of the current crop of responders. Basically you have to understand who is benefitting from the current monetary policy of the government. The timing will also be crucial for any change depending on how secure the big cheese becomes as the election approaches

Ok for the edification for the current crop of responders: Who is benefitting from the current monetary policy? And are they also in control of that policy.