November inflation reaches 2.71%

[Jonathan Fairfield]

 

BANGKOK (NNT) - Thailand’s inflation rate in November increased for the third consecutive month to 2.71%, thanks to the increase in grocery and fuel prices. The government’s trade policy agency now expects next year’s inflation to stay within the margin of 0.7-2.4%.

 

Trade Policy and Strategy Office (TPSO) Director-General Ronnarong Phoolpipat said the rise in the November Consumer Price Index, which is regarded as the inflation rate, can be attributed to higher prices of fuel and consumer goods including non-alcoholic drinks, vegetables, and pork.

 

The inflation rate is calculated based on the prices of 430 items. And as many as 235 items were sold at a higher price in November, including cooking oil and coriander.

 

The pricing of 68 items remained stable and that of the remaining 127 items including rice and electricity was lower.

 

The inflation rate from January to November 2021 saw an average 1.15% increase, which was well within the 0.8-1.2% margin projected by the Ministry of Commerce.

 

The office now expects the country’s inflation rate to fluctuate between 0.7 and 2.4% in 2022, amid a potential spread of the Omicron COVID-19 variant which could necessitate the reintroduction of disease control measures.

 

-- © Copyright NNT 2021-12-05

 

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[worgeordie]

While bank interest rates on your money , is nowt.....

regards Worgeordie

[khunPer]

The interesting comparison is not to last year, which was an pandemic year with lots of close downs and thereby low prices, for example for fuel. Instead it's interesting to compare with how prices were before the pandemic, two years ago.

 

The ideal inflation rate is according to economic experts at 2 percent per year. The Consumer Price Index is a good source to to follow what we can buy for our money, and what income increase we need to obtain equal buying power. However, you shall bear in mind that difference in life-style from the ideal index individual might change the need of personal income, as some products might raise more in price than others, and something might even become little cheaper. If you buy lots of stuff that increased more in price than average, you might focus too much on that, and feel that prices have raised a lot.

 

Looked year to year the average consumers prices have increased by 2.71 percent...

 

While compared to 2019 index, before the Covid pandemic, the increase is 2.25 percent, which is an average annual consumer price increase of more modest 1.13 percent...

 

Source for Thai Consumer Price Index is HERE.

Edited December 5, 2021 by khunPer

[mikebell]

20 hours ago, khunPer said:

The Consumer Price Index is a good source to to follow what we can buy for our money, and what income increase we need to obtain equal buying power.

Unless you are drawing a UK State pension.

[Cherrytreeview]

21 minutes ago, mikebell said:

Unless you are drawing a UK State pension.

And why you should never sell your biggest UK asset, your home.

Rent out your home in the UK and use the income to rent in Thailand.

UK house prices up 10% year on year. Average house price £250,000.

Sweet.

[khunPer]

4 hours ago, mikebell said:

Unless you are drawing a UK State pension.

In the always unbearably bright light of hindsight, some folks will realize that they should have save some up in a private retirement pension, or just saved something up in something...