Inflation Runs at 2.71%, Fastest in 7 Months

[snoop1130]

 

NONTHABURI, Dec 3 (TNA) – Inflation in November ran at 2.71%, the fastest pace in seven months, on many factors including eased disease controls and business resumption.

 

Ronnarong Phoolpipat, director-general of the Commerce Ministry’s Trade Policy and Strategy Office, said inflation in November ran at 2.71% compared with its level a year earlier and 2.38% from the previous month. The rate was the highest in seven months from April due to rising retail fuel prices, the base of low prices last year and vegetable prices affected by recent flooding.

 

Full Story: https://tna.mcot.net/english-news-836233

 

-- © Copyright TNA 2021-12-03

 

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[jacko45k]

By the time I can buy a LD in Baccara I won't be able to afford it. 

[nobodysfriend]

Time to raise interest rates .

[Pedrogaz]

Yes a pre-emptive strike at inflation by raising interest rates substantially is the right way to go. But then businesses will complain about the high Thai baht....

 

BTW looking around supermarkets, I cannot see inflation at 2.7%, not when I take into account smaller pack sizes on many items. Food inflation has to be 10-15% at least.

[Cake Monster]

I really dont know where, or how they calculated the, figure of 2.71 %

Fuel has now been capped at 28 Baht / Liter, so it cannot be on Logistical costs.

Low Base prices from last year ?

Sure, there is a little price Inflation on Veggies, but nothing in the region of the amounts that Consumers are asked to pay at the moment.

The price rises on many Veggies at Makro has been hiked by as much as 30 % 

How is that justifiable. ?

Oh yes ! I forgot !

Its the so called high season and some " Tourists " are in Thailand to spend all their Money. Every Year we see this price hiking at this time of Year, but this Year its obscene.

 

[MrJ2U]

Lots of people worried.

 

Daily wages of 300 baht Don't go as far as they did 20 years, the last time the minimum wage was raised.

(Not including Bangkok proper).

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16 hours ago, nobodysfriend said:

Time to raise interest rates .

 

13 hours ago, Pedrogaz said:

Yes a pre-emptive strike at inflation by raising interest rates substantially is the right way to go. But then businesses will complain about the high Thai baht....

 

BTW looking around supermarkets, I cannot see inflation at 2.7%, not when I take into account smaller pack sizes on many items. Food inflation has to be 10-15% at least.

The interest rate tool is used when an economy is overheating. Do either of you actually believe that is the case with Thailand. 

First off, disruptions in supply chains have resulted in inflation worldwide. How does raising interest rates affect that?

Second in many countries the metric they use to determine whether inflation s a problem or not is called core inflation. It strips out volatile items like food and fuel since they fluctuate a lot. Food and fuel were specifically cited as the reason for the current inflation. How will hiking interest rates address this issue?

 

[spidermike007]

Total nonsense. Closer to 15%. Nearly everything is going up.

 

And in the US it is hyperinflation. The prices are spiraling out of control. I consider Powell and Yellen, largely to blame for that. Interest rates need to start rising or disaster is looming. 

Edited December 4, 2021 by spidermike007

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7 hours ago, spidermike007 said:

Total nonsense. Closer to 15%. Nearly everything is going up.

 

And in the US it is hyperinflation. The prices are spiraling out of control. I consider Powell and Yellen, largely to blame for that. Interest rates need to start rising or disaster is looming. 

I'm sure you  have a valid source for that 15% figure. Care to share it with the rest of us?

And how would raising interest rates dampen inflation? Raising interest rates isn't an all-purpose cure for inflation.. It's used when an economy is overheated. Is that the case with the US economy?