Finance Ministry sees inflation hit 23-year high

[webfact]

 

By Panithan Onthaworn

 

Thailand’s Finance Ministry said on Wednesday that a spike in global energy prices could lead the country’s headline inflation to grow up to 7 per cent in 2022, the highest level since the 1997-98 Asian financial crisis.

 

Arkhom Termpittayapaisith, the Finance Minister, predicted that headline inflation will rise in tandem with a surge in crude oil prices as a result of sanctions against Russia for its invasion of Ukraine.

 

He expects headline inflation to rise by 5 to 7 percent if crude oil prices remain above $100 per barrel for the rest of the year.

 

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Full story: https://www.thaienquirer.com/38848/finance-ministry-sees-inflation-hit-23-year-high/

 

-- © Copyright Thai Enquirer 2022-03-23

 

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Full story: https://www.thaienquirer.com/38848/finance-ministry-sees-inflation-hit-23-year-high/

[ThailandRyan]

No way, they just now saw inflation rise?

2 minutes ago, webfact said:

Arkhom Termpittayapaisith, the Finance Minister, predicted that headline inflation will rise in tandem with a surge in crude oil prices as a result of sanctions against Russia for its invasion of Ukraine.

  Many of us have been seeing the signs for the past year.  It is not just the price of crude that raises prices, it is the full monty of many items...to many to expand on here.  These folks are truly blind and then it also explains why the baht has a teflon coating on it.

[Excel]

13 minutes ago, ThailandRyan said:

No way, they just now saw inflation rise?

When you are a government with their heads up their back sides it wouldn't surprise

[crazykopite]

I’ve seen chicken breast in Makro go up from 59 baht to 80 baht a kilo in the last fortnight  . The baht is getting weaker as well and as my monies come from the U.K. that is music to my ears 

[JonnyF]

2500 Baht to fill my car this morning. And there was still almost a quarter of a tank left.

 

I'd have to check the receipt but I'm pretty sure it was 47.89 per litre. Not to mention the hikes on food etc. People must really be struggling.

[RichardColeman]

4 hours ago, webfact said:

Russia for its invasion of Ukraine.

Hopefully an up and upcoming 10,000 baht airport arrival tax for all Russians, if ever they come back to make some amends for their nations abuse

[Cake Monster]

4 hours ago, ThailandRyan said:

No way, they just now saw inflation rise?

  Many of us have been seeing the signs for the past year.  It is not just the price of crude that raises prices, it is the full monty of many items...to many to expand on here.  These folks are truly blind and then it also explains why the baht has a teflon coating on it.

They aint seen nothing yet.

When the full effects of the Sanctions really kick in, there will be things that  many folk dont even consider when they talk about Inflationary prices and there effects.

One of the most scary things has to be the rises in costs to the entire World on Fertilisers for Crop Growth.

All Farmers need this stuff, whether they grow Wheat or Rice or Potatoes, and Ukraine and Russia are the largest Exporters of the basic items to make Fertiliser.

Potash, Nitrates and many other things that constitute the fertiliser makeup all come from the War Zone.

 

[worgeordie]

No wonder nearly everyone's in debt, the ones taking the

hit are the ones with a few bob saved up, it's just slowly

melting away , 

regards worgeordie