February’s inflation rises to highest since 2008 on energy surge

[webfact]

 

By Panithan Onthaworn

 

Thailand’s headline consumer price index (CPI) in February jumped beyond expectations by 5.28 per cent year-on-year, driven by a spike in energy prices, the Commerce Ministry said on Friday.

 

The figures exceeded market expectations of around a 4-per-cent rise, as global fuel prices continued to climb along with domestic food prices. In January, CPI rose by 3.2 per cent year-on-year.

 

Ronnarong Phoolpipat, director-general of the ministry’s Trade Policy and Strategy Office, said the headline inflation in February was the highest level seen since September 2008.

 

Full story: https://www.thaienquirer.com/38227/februarys-inflation-rises-5-28-on-energy-surge/

 

-- © Copyright Thai Enquirer 2022-03-05

 

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[edwinchester]

"Addressing people’s hardship, Ronnarong said the authorities will continue to alleviate the burden of the Thai people. “We have been collaborating with the private sector to keep product prices under control so that they do not affect consumers."

 

Typical response from somebody totally out of touch and feeding off the public tit.

[hotchilli]

1 hour ago, edwinchester said:

"Addressing people’s hardship, Ronnarong said the authorities will continue to alleviate the burden of the Thai people. “We have been collaborating with the private sector to keep product prices under control so that they do not affect consumers."

 

Typical response from somebody totally out of touch and feeding off the public tit.

Everywhere I go to buy something the price has increased from a month ago.

In some cases as much as 20%-30%

[Bangkok Barry]

1 hour ago, hotchilli said:

Everywhere I go to buy something the price has increased from a month ago.

In some cases as much as 20%-30%

I was told by someone yesterday that Big C bread price has risen by 30% overnight, and the beer I buy has risen by 5 baht, which is 10%. In the real world prices increase by 1-2% a time, but instead Thailand is heading towards being one of the most expensive in the region with increases like that. And it has been going on for quite some time. It isn't recent.

 

The bread price increase might be linked to the fact that 30% of the world's wheat comes from Russia, but I doubt it. That'll lead to another increase soon, no doubt.

[Will B Good]

Easy to add an extra bit of price gouging when the government is so inept (corrupt) as to allow monopolies to exist.

[StayinThailand2much]

3 hours ago, hotchilli said:

Everywhere I go to buy something the price has increased from a month ago.

In some cases as much as 20%-30%

Maybe they used TAT calculators again...

 

 

You buy 6 things. 

 

30% price increase : 6 items = 5% inflation  ????

 

[Muhendis]

This is not confined to Thailand. My son in the UK tells me electricity prices there have risen by 50%.

 

It's all to do with recouping losses caused by the Covid pandemic.

 

These are losses which we all have to live with but retailers will not accept this and bump up their prices wherever they can.

[hotchilli]

5 hours ago, Bangkok Barry said:

The bread price increase might be linked to the fact that 30% of the world's wheat comes from Russia, but I doubt it. That'll lead to another increase soon, no doubt.

I noticed bread in my local 7-11 [which I use very infrequently] has increased, a half loaf is now 40 baht where it used to be 40 baht for a full loaf, a full one now is 49 Baht [wholemeal green bag]

But this started middle of last month?

[placeholder]

1 hour ago, Muhendis said:

This is not confined to Thailand. My son in the UK tells me electricity prices there have risen by 50%.

 

It's all to do with recouping losses caused by the Covid pandemic.

 

These are losses which we all have to live with but retailers will not accept this and bump up their prices wherever they can.

The sharp rise in electricity prices has nothing to do with losses caused by the Covid pandemic and everything to do with the sharp rise in the cost of natural gas.

Gas prices scrape record highs in the UK as market trembles

https://news.sky.com/story/gas-prices-scrape-record-highs-in-the-uk-as-market-trembles-12557629

[Bangkok Barry]

1 hour ago, hotchilli said:

I noticed bread in my local 7-11 [which I use very infrequently] has increased, a half loaf is now 40 baht where it used to be 40 baht for a full loaf, a full one now is 49 Baht [wholemeal green bag]

But this started middle of last month?

I haven't bought any for awhile, but another massive rise percentage-wise then. It's so ridiculous that there is bound to be a backlash eventually.

[Muhendis]

2 hours ago, placeholder said:

The sharp rise in electricity prices has nothing to do with losses caused by the Covid pandemic and everything to do with the sharp rise in the cost of natural gas.

Gas prices scrape record highs in the UK as market trembles

https://news.sky.com/story/gas-prices-scrape-record-highs-in-the-uk-as-market-trembles-12557629

Yeah. You're quite right.

 

2 hours ago, placeholder said:

My son in the UK tells me electricity prices there have risen by 50%.

This was a specific example of a price increase.

2 hours ago, placeholder said:

It's all to do with recouping losses caused by the Covid pandemic.

This comment was meant to have been more general. I hadn't intended that it be connected with what my son reported. My bad.

The Pandemic has cut into the retail trade quite disastrously for many traders. Many people have had to get by on reduced income which is reflected in their reduced spending.

Now that things are returning, albeit slowly, to a form of normality, the commercial sector has generally hiked prices to replace lost income due to the pandemic. Why? Because they can.

[kickstart]

6 hours ago, hotchilli said:

11 hours ago, Bangkok Barry said:

The bread price increase might be linked to the fact that 30% of the world's wheat comes from Russia, but I doubt it. That'll lead to another increase soon, no doubt.

I noticed bread in my local 7-11 [which I use very infrequently] has increased, a half loaf is now 40 baht where it used to be 40 baht for a full loaf, a full one now is 49 Baht [wholemeal green bag]

But this started middle of last month?

I  have my  doubts as all wheat for bread flour  in Thailand is  imported wheat ,and they are still probable still using old stock.

If it has gone up now what will it be when new supply's of wheat arrive in the country ,the wheat has to be a hard wheat verity for bread , this time coming from a new sauce ,that will put a baht or two on my morning sice of toast ,and we make our own bread.

[placeholder]

12 hours ago, kickstart said:

I  have my  doubts as all wheat for bread flour  in Thailand is  imported wheat ,and they are still probable still using old stock.

If it has gone up now what will it be when new supply's of wheat arrive in the country ,the wheat has to be a hard wheat verity for bread , this time coming from a new sauce ,that will put a baht or two on my morning sice of toast ,and we make our own bread.

approximately 300 to 400 metric tons

 

Wheat production is marginal in Thailand due to unfavorable climatic conditions, limited seed development, and unattractive returns compare to other field crops. Total production is estimated at approximately 300 to 400 metric tons on a cultivated area of around 1,000 rai (160 hectares).

https://apps.fas.usda.gov/newgainapi/api/report/downloadreportbyfilename?filename=Grain and Feed Annual_Bangkok_Thailand_3-14-2019.pdf

 

You don't need hard wheat to make the soft kind of bread that Thais prefer.

[worgeordie]

In the past when inflation raised it's ugly head, interest rates

were also increased to try and combat it, but this time that

is not happening, so ones cash is slowly melting away. ????

regards Worgeordie

[Daithi85]

20 hours ago, hotchilli said:

I noticed bread in my local 7-11 [which I use very infrequently] has increased, a half loaf is now 40 baht where it used to be 40 baht for a full loaf, a full one now is 49 Baht [wholemeal green bag]

But this started middle of last month?

I buy the half green loaf everyday at 7 11,its price has increased from 22 baht to 24 baht,its defenitly not 40 baht. Think about it, why would they charge 40 for a half and 49 for a full? 

[connda]

A bowl of noodles still costs 20 THB in our village.
That same bowl of noodles probably cost 100+ THB in Bangkok.

Inflation can be viewed though a regional lens. Which is why I prefer rural Thailand to city life.
Wife got a kilo of cilantro for 10 THB yesterday
A kilo of sweet peppers 15 THB
Papaya - Free.  You can't give it away out here in the rice field.
In town at Big Box stores?  You can still find discount.  And I bought pork tenderloin at Marko for 140/kilo a couple of days ago - down from 189/kilo. 

[connda]

32 minutes ago, Daithi85 said:

I buy the half green loaf everyday at 7 11,its price has increased from 22 baht to 24 baht,its defenitly not 40 baht. Think about it, why would they charge 40 for a half and 49 for a full? 

Hotchili is getting ripped of.  The green stuff is Farmhouse brand.  Half loaf is up to 24 THB and the full load is up to 44 THB.  We buy full loafs.  The prices here in the CM/Lamphun area are uniform regardless of where you buy it.  The price is marked on the bag.

[kickstart]

10 hours ago, placeholder said:

approximately 300 to 400 metric tons

 

Wheat production is marginal in Thailand due to unfavorable climatic conditions, limited seed development, and unattractive returns compare to other field crops. Total production is estimated at approximately 300 to 400 metric tons on a cultivated area of around 1,000 rai (160 hectares).

https://apps.fas.usda.gov/newgainapi/api/report/downloadreportbyfilename?filename=Grain and Feed Annual_Bangkok_Thailand_3-14-2019.pdf

 

You don't need hard wheat to make the soft kind of bread that Thais prefer.

They is no way you could use Thai wheat to make bread ,as has been said unfavourable growing conditions ,just not enough protein in the grain for bread .

I have seen Thai wheat grains,small shrivelled  grains,only used for livestock feed,300-400 metric tons from 160 hectares, is 2.5 ton/hectare,in the UK in 2020 it was 7 ton/hectare and that was a bad year.down22% on 2019.

Only thing you need for Thai bread is sugar ,to sweet for me.

[BayArea]

On 3/4/2022 at 6:28 PM, Bangkok Barry said:

I was told by someone yesterday that Big C bread price has risen by 30% overnight, and the beer I buy has risen by 5 baht, which is 10%. In the real world prices increase by 1-2% a time, but instead Thailand is heading towards being one of the most expensive in the region with increases like that. And it has been going on for quite some time. It isn't recent.

 

The bread price increase might be linked to the fact that 30% of the world's wheat comes from Russia, but I doubt it. That'll lead to another increase soon, no doubt.

Thailand will finally get the " rich, quality tourist "  after all if prices continued to rise.  ????

[Bangkok Barry]

Another massive price increase I've noticed is potatoes in Lotus. Were 28-33, now 48. Jeez. But, a-ha, some people in my village are now growing potatoes for the Lays crisp company, and in typical Thai-style they sell off some for 15 if they are very small or 20 for more normal size.