Coronavirus outbreak has turned Asia’s best-performing currency into one of the worst

[HHTel]

2 hours ago, saengd said:

"most things are more expensive now,"

I would agree but only from the retiree/residents here, especially from the UK which has seen the GBP dive since the referendum.  Other home currencies have also lost value, including the US.

In baht terms, prices have probably risen less than most other countries.

If I was still getting 60 or 70 baht to the pound, I couldn't complain about prices here, but the fact is that my income has been decimated by the exchange rate not about rising prices.

[saengd]

5 hours ago, HHTel said:

I would agree but only from the retiree/residents here, especially from the UK which has seen the GBP dive since the referendum.  Other home currencies have also lost value, including the US.

In baht terms, prices have probably risen less than most other countries.

If I was still getting 60 or 70 baht to the pound, I couldn't complain about prices here, but the fact is that my income has been decimated by the exchange rate not about rising prices.

I think we agree but you made my quote appear the opposite of what I actually wrote: I was pointing out that core inflation has been almost flat for the past five years, base prices have barely risen in that time so no, things are not that much more expensive. But of course imported goods are more expensive as are items that are not in the core inflation basket of goods.

 

As you say, it's important for people to distinguish between the loss of home currency value and inflation, they are not the same thing. A bag of sugar cost 45 baht five years ago, today it costs 48 baht, that's inflation. If the Pound was worth 55 baht five years ago and today it's only worth 39 baht, that's not inflation even though it costs a lot more Pounds to buy that same bag of sugar and it is far more expensive, that's loss of home currency value. So when expats here are complaining about the rising cost of living and inflation they are not really complaining about that at all, they're really complaining about currency strengths and weaknesses, from a Thai persons perspective there's no real issue per se. (for others....the prices and values I used are only to make an example, please don't post and tell me my sugar price is wrong).

Edited February 8, 2020 by saengd

[kiwikeith]

On 2/6/2020 at 10:41 PM, Lacessit said:

The coronavirus fatalities are far worse than the Chinese authorities are admitting. Entire supply chains are being shut down as cities in China are in lockdown. It is not good news for anybody, with the possible exception of the medical industry.

Well the government has been saying that they would introduce measures to combat the BHT from getting stronger.

[HHTel]

3 hours ago, saengd said:

I think we agree but you made my quote appear the opposite of what I actually wrote: I was pointing out that core inflation has been almost flat for the past five years, base prices have barely risen in that time so no, things are not that much more expensive. But of course imported goods are more expensive as are items that are not in the core inflation basket of goods.

 

As you say, it's important for people to distinguish between the loss of home currency value and inflation, they are not the same thing. A bag of sugar cost 45 baht five years ago, today it costs 48 baht, that's inflation. If the Pound was worth 55 baht five years ago and today it's only worth 39 baht, that's not inflation even though it costs a lot more Pounds to buy that same bag of sugar and it is far more expensive, that's loss of home currency value. So when expats here are complaining about the rising cost of living and inflation they are not really complaining about that at all, they're really complaining about currency strengths and weaknesses, from a Thai persons perspective there's no real issue per se. (for others....the prices and values I used are only to make an example, please don't post and tell me my sugar price is wrong).

Sorry, the system attributed that quote to you.  I realise that it wasn't a direct quote from you.  I was just taking the phrase from your post because I'm lazy.

Sorry for the misunderstanding.

[Grumpy John]

I am not just annoyed the Baht has got so strong I am also p1zzed off the SFBs Australia government has allowed the Aussie dollar to slide. I've only got enough baht left to get through to September. 

[Assurancetourix]

On 2/7/2020 at 11:09 AM, spidermike007 said:

Prayuth, and his band of incompetents.

Now better known by this name: Les pieds Nickelés

 

https://en.wikipedia.org/wiki/Les_Pieds_Nickelés

[AWillOz]

That would be very helpful to finish paying off the condo!