January inflation highest in last eight months

By THE NATION

 

 

The consumer price index representing the cost of inflation stood at 102.78 points in January, 1.05 per cent more than in December and the highest in eight months, Pimchanok Wonkorporn, director of the Trade Policy and Strategy Office, reported this week.

 

She attributed the increase to a hike in fresh food prices during the Chinese New Year holiday and a rise in energy prices.

 

Inflation rose by 1.82 per cent for foods and non-alcoholic beverages and by 8.31 per cent for flour and flour products.

 

Other price increases:

• 3.53 per cent for meat, chicken, duck and fish 

• 3.5 per cent for fruit

• 1.52 per cent for eggs and dairy products

• 1.95 per cent for non-alcoholic and sweetened beverages, soft drinks and chocolate-flavoured drinks

• 0.8 per cent for seasonings

• 0.62 per cent for items other than food and beverages

• The price of vegetable dropped 5.42 per cent due an ample supply.

 

Pimchanok said the rate of inflation was calculated based on the process of 422 products. “Of those, 238 products increased in price, 106 decreased and 78 stayed the same,” she added.

 

She acknowledged that the coronavirus situation would hurt tourism and curb consumer spending in the first half of the year.

Drought is another factor in inflation that’s being monitored. 

 

“It has cut into production of farm produce and increased prices,” she said.

 

Pimchanok predicts an inflation rate of 0.8 per cent for in the first quarter and between 0.4 and 1.2 per cent for the full year, for a 0.8 per cent average.

 

Source: https://www.nationthailand.com/news/30381743

 

-- © Copyright The Nation Thailand 2020-02-07

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Why are the arrows in that picture pointing downwards?

Inflation rising,interest rates dropping, infact inflation is now

higher  than interest rates offered at banks, no wonder lots

of people in debt, anyone with cash ,it's slowly losing its value. 

regards worgeordie

My peanuts are 15% cheaper.

Normally 10bht/bag but Tesco are selling them 2 bags for 17bht.

Cooking oil seems to have risen from 40bht to 45bht but that's about it for inflation in my household.

Bought 6 bags of TFM bread flour 32bht/each, same price for the last 11 years.

And 2 bags of Star all purpose flour 24bht, same price for the past 11 years.

Edited February 7, 20206 yr by BritManToo

4 hours ago, worgeordie said:

Inflation rising,interest rates dropping, infact inflation is now

higher  than interest rates offered at banks, no wonder lots

of people in debt, anyone with cash ,it's slowly losing its value. 

regards worgeordie

0.8 percent prediction for first quarter, you're looking at prices for few specific products only, not at "inflation". Some products and services goes up in price, others fall.

 

Consumer Price Index for Thailand was in December 2019 at 102.62 point, in January 2020 down to 101.71 points. Inflation rate in Januar 2020 is 1.05.

 

Reasonable good 12-month fixed term bank-interest range from 1.50 percent to 1.65 percent, after 15 percent withholding tax it's 1.27 percent to 1.40 percent...????

...And it's not over yet...