Thai government urged to brace for goods price spike in May

[webfact]

 

The government has been advised to take steps to cope with an average 5% to 10% increase in the prices of goods in May, when the diesel price, which has been pegged at 30 baht/litre, will be allowed to float and cargo transporters are likely to increase transport charges.

 

With the government’s decision to end subsidies on diesel at the end of this month, he said cargo transport operators are likely to raise their charges by 15-20%.

 

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This will lead to the projected rise is the price of goods, said Kriengkrai , as he advised the government to roll out measures to ease the burden on consumers.

 

Full story: https://www.thaipbsworld.com/thai-government-urged-to-brace-for-goods-price-spike-in-may/

 

-- © Copyright Thai PBS 2022-04-18

 

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[vandeventer]

I knew this was going to happen, as it is happening everywhere. My electric bill has also gone up 30% from last months bill. I guess Home cooking is the way to go.

[Excel]

Looks like Makro and Lotus's are ahead of the game, their prices have gone up regularly since October ????

Edited April 18, 2022 by Excel

[2umich]

All they can do is to urge

[tracker1]

And as per usual the consumer will cop the increase !

[Daithi85]

7 minutes ago, vandeventer said:

I knew this was going to happen, as it is happening everywhere. My electric bill has also gone up 30% from last months bill. I guess Home cooking is the way to go.

Taking a guess I'd say due to the hot weather you've probably been using your air-con more now than in previous months. The cost of electricity has definitely not jumped by 30 percent. All you need to do is see how many units you've used compared to previous months. 

[John Drake]

Lots of people still out of work.

Energy prices shooting upwards.

Food prices growing almost as fast.

Government still protecting the "strong" baht.

Recipe for disaster.

[Will B Good]

An excellent opportunity for. the likes of CP to price gouge as they jack the prices up in the absence of any serious competition.......Thais are being ripped off by the big five or six families......all from...???

[vandeventer]

29 minutes ago, Daithi85 said:

Taking a guess I'd say due to the hot weather you've probably been using your air-con more now than in previous months. The cost of electricity has definitely not jumped by 30 percent. All you need to do is see how many units you've used compared to previous months. 

This might sound strange but I do know how to read a water bill. Also it would be nice if I had A/C. It's jumped up in my area not just me but my friends are complaining as well

[John Drake]

19 minutes ago, vandeventer said:

This might sound strange but I do know how to read a water bill. Also it would be nice if I had A/C. It's jumped up in my area not just me but my friends are complaining as well

Year over year, my electricity bill (which comes through on the 15th of every month) has gone from right at 1100 baht to just over 1500. And that is with the cooler days at the end of March and beginning of April. As far as I can tell, you're right.

[hotchilli]

4 hours ago, webfact said:

The government has been advised to take steps to cope with an average 5% to 10% increase in the prices of goods in May, when the diesel price, which has been pegged at 30 baht/litre, will be allowed to float and cargo transporters are likely to increase transport charges.

Here we go again... always up but never down , so my missus says anyway.

[Cake Monster]

As usual, the price hikes will be blamed on the cost of Diesel, and therefore Transportation.

Many of the hikes that will be seen in May going forward are only in small part to blame on either of the Two things already mentioned.

Starting to filter through the system in May will be the massive costs of many commodities that have risen due to the Russian Invasion of Ukraine.

To name just a few, of which either Russia or Ukraine , or in some cases both, are among the Worlds top suppliers.

Wheat, Palladium, Platinum, Nickel, Sunflower Oil, Potash, Nitrates Etc are among their top exports, and May will see all the ingredients for a perfect storm come together with the 30 Baht ceiling on Diesel removed.

Add to these things in the recipe, the " gouge factor " and there is a whole world of hurt coming .

[Gold Star]

Energy is the largest contributor to inflation, and the so called energy transition is not coming faster than they are killing off the oil industry.

 

Hedge yourself against higher costs by buying beaten down oil stocks.

 

[Eric Loh]

1 hour ago, John Drake said:

Lots of people still out of work.

Energy prices shooting upwards.

Food prices growing almost as fast.

Government still protecting the "strong" baht.

Recipe for disaster.

The "strong" baht is curtailing the full impact of imported energy costs. Could be worse if Baht weakened. I wouldnt be surprise that BOT will raise rate to strengthen the Baht to reduce imported costs and at the same time fight inflation. 

[mrfill]

15 minutes ago, Cake Monster said:

As usual, the price hikes will be blamed on the cost of Diesel, and therefore Transportation.

Many of the hikes that will be seen in May going forward are only in small part to blame on either of the Two things already mentioned.

Starting to filter through the system in May will be the massive costs of many commodities that have risen due to the Russian Invasion of Ukraine.

To name just a few, of which either Russia or Ukraine , or in some cases both, are among the Worlds top suppliers.

Wheat, Palladium, Platinum, Nickel, Sunflower Oil, Potash, Nitrates Etc are among their top exports, and May will see all the ingredients for a perfect storm come together with the 30 Baht ceiling on Diesel removed.

Add to these things in the recipe, the " gouge factor " and there is a whole world of hurt coming .

Well, someone has to pay to keep the asset rich elite in the lifestyle they are accustomed to. It may as well be the poor (relatively) as they don't matter. That's 21st century economics for you...

[Harveyboy]

26 minutes ago, Cake Monster said:

As usual, the price hikes will be blamed on the cost of Diesel, and therefore Transportation.

Many of the hikes that will be seen in May going forward are only in small part to blame on either of the Two things already mentioned.

Starting to filter through the system in May will be the massive costs of many commodities that have risen due to the Russian Invasion of Ukraine.

To name just a few, of which either Russia or Ukraine , or in some cases both, are among the Worlds top suppliers.

Wheat, Palladium, Platinum, Nickel, Sunflower Oil, Potash, Nitrates Etc are among their top exports, and May will see all the ingredients for a perfect storm come together with the 30 Baht ceiling on Diesel removed.

Add to these things in the recipe, the " gouge factor " and there is a whole world of hurt coming .

sad....but i think you are correct on this one 

[metisdead]

An off topic post about the UK has been removed.

[digger70]

3 hours ago, Will B Good said:

An excellent opportunity for. the likes of CP to price gouge as they jack the prices up in the absence of any serious competition.......Thais are being ripped off by the big five or six families......all from...???

Isn't that all over the world? The big Companies Gouging the work men who can't afford to lose more money.

The rich are getting richer and the poor are getting poorer,Nothing new.

[Sydebolle]

If you fiddle too much on the diesel price, then all hell will break lose here in the Land of Semi-Divines. There is no subsidy by the government, what happens is that their taxing of diesel is less than all those years before. So do not get blended with "government subsidies" - all bo11ocks! 

If diesel is getting too costly, then the clowns in uniforms will be seeing the heat coming from all those 75% of Thais who are hovering over poverty line with their unpaid pick-ups and agricultural machinery. 

Everything else went up considerably more than just 5% - 10%, locally grown bell peppers were 89 Baht, now the same stuff is 139 Baht, eggs saw a skyrocketing development of more than 20% too. So, in all honesty, what are you talking about? 

[MrJ2U]

6 hours ago, vandeventer said:

My electric bill has also gone up 30% f

The unit of electric is unchanged.

 

Perhaps you left the fridge open by mistake.

[MrJ2U]

2 hours ago, Sydebolle said:

If you fiddle too much on the diesel price, then all hell will break lose here in the Land of Semi-Divines. There is no subsidy by the government, what happens is that their taxing of diesel is less than all those years before. So do not get blended with "government subsidies" - all bo11ocks! 

If diesel is getting too costly, then the clowns in uniforms will be seeing the heat coming from all those 75% of Thais who are hovering over poverty line with their unpaid pick-ups and agricultural machinery. 

Everything else went up considerably more than just 5% - 10%, locally grown bell peppers were 89 Baht, now the same stuff is 139 Baht, eggs saw a skyrocketing development of more than 20% too. So, in all honesty, what are you talking about? 

Totally agree!

 

There's going to be a lot more dissent if diesal prices skyrocket.

 

 

[MarcelV]

As western farangs we can afford it. For me it's no biggie and I won't drink a glass less because of it.

[spidermike007]

11 hours ago, Will B Good said:

An excellent opportunity for. the likes of CP to price gouge as they jack the prices up in the absence of any serious competition.......Thais are being ripped off by the big five or six families......all from...???

Utter greed. But, it is not only happening here. This is a worldwide trend. In the US it is out of control. Hyper inflation. Just paid $8 for five color copies. Insanity. Total corporate gouging at a time when many can least afford it. A pox in the families of the CEO's who support this kind of dereliction of morality.