Inflation could be less than 6% for October as price of food and necessities start to dip, says Ministry of Commerce

[webfact]

 

By Erich Parpart

Thailand’s headline inflation could start to come down amid fall in prices of goods and services with Ministry of Commerce saying that the inflation rate could fall to below 6% for the month of October.

 

Thailand, like other countries has been facing a cost push inflation that was running at 14-year high after it hit 7.86% in August then dropping to 6.41% in September while October 2022 data is yet to be released.

 

Commerce Minister Jurin Laksanawisit came out to say that a survey of price of food and other necessities found that prices of food such as pork, rice, paddy, chicken and others have all seen a decline.

 

Full story: https://www.thaienquirer.com/45652/inflation-could-be-less-than-6-for-october-as-price-of-food-and-necessities-start-to-dip-says-ministry-of-commerce/

 

-- © Copyright Thai Enquirer 2022-11-07

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

[Mickeymaus]

Inflation of 6 to 7 percent? Where and with which products? My experience is more than 20 to 30 percent and some products even more...

[ThailandRyan]

Where are they looking.  I just went shopping and the prices of vegetables, although not a large amount of money are up between 10% and 15%, general groceries are up and have been climbing since the start of March.  Fuel prices are headed back up as well.  So pray tell, where are they looking at prices that are falling.  Every morning when we watch the news and the agriculture prices are shown, it has rarely showed a downturn in prices.......

[worgeordie]

21 minutes ago, webfact said:

Commerce Minister Jurin Laksanawisit came out to say that a survey of price of food and other necessities found that prices of food such as pork, rice, paddy, chicken and others have all seen a decline.

Oh! no they haven't , only seasonal food may come down ,

other food once it's up , it never comes down.

regards Worgeordie 

[jollyhangmon]

...?? 8% down to 6? Really? Where exactly?

 

Lil' roll of cookies, down to 4 pcs from 6 at same price, that's more like 34% plus in my book, hellofa shrinkflation.

Greedy b-stards gonna put back in 1 or 2 pieces more?? Yeah, don't think so ...

 

Or whatabout them apples, 8 pcs in the bag now, 2 less ... price even up slightly (no, not priced by weight in that case).

So surely they'll come in a pack-o-10 again soon, yes? Dream on you ministerial clowns, civil failures the lot.

 

[trainman34014]

I see TAT are now in charge of Inflation Figures as well then !

[nigelforbes]

Google, the conundrum of low Thai inflation for answers.

 

Meanwhile, there are 450 items in the basket of goods that measures Thai inflation, sadly pringles or beer aren't in there, 

[jacko45k]

I hope so.... after my regular Sunday shop when I saw the total yesterday I was taken aback. Everything seemed to have jumped up!

[huangnon]

Quote

Commerce Minister Jurin Laksanawisit came out to say that a survey of price of food and other necessities found that prices of food such as pork, rice, paddy, chicken and others have all seen a decline.

The political art of pishing down the peasant's backs, and glibly informing them that it's raining. ????

[connda]

Governments routinely lie their behinds off on inflation and CPI. 

But?  I'd rather live here than in any Western country right now.

Yes - in Big-Box-Hypermart stores, yeah I can see some food inflation especially with imported goods - olive oil for instance.  Locally, Bread is a good example.  I buy Farmhouse "Green" wheat bread.  It was a solid 40 THB a loaf for years.  Well until the 2020 destruction of the economy began.  Then it was 42, then 44, and now 46 in quick secession. 

Ok - Am I  gagging over 46 THB bread?  Nope.  During that same amount of time my incoming USD has strengthened considerably.
I think that the loaf of bread cost me about 42 THB back in Spring of 2021.  Now 46 TBH.  So 46/42 = 9.5%.   The USD as gone from about 30THB/1USD to about 37.50/1USD or it appreciated about 25%.  Net?  Us Yanks are about 15.5% ahead of regional inflation.  So goes the Reserve Currency until it too eventually takes.

Pork loin?  It was pushing 200/kg.  Then is came down to about 150.  Now about 170.  So we benefit for regional commodity fluctuation as well.  Supply and demand in a free-market still works.
Then I hear that eggs in the US are what - $2.50 to 4 bucks depending where you live.  Out here in rural Thailand.   If you don't like the price, raise your own chickens.
Otherwise enjoy the discount that we enjoy by buying our eggs in the villages (nice fresh eggs to boot).  There is still price competition in the villages.  People aren't going to buy expensive eggs because if they get too expensive?  You put in your own chicken coups and sell the excess which drives down the price.  Eggs are still reasonable here.

Yeah, so again?  Nope.  I don't miss living in the West at all.  Ya'll can have it.  There IS a reason why I left. 

 

[connda]

22 minutes ago, huangnon said:

The political art of pishing down the peasant's backs, and glibly informing them that it's raining. ????

Ala Bob Moran who has taken political cartoons to the next level. 

[connda]

2 hours ago, jollyhangmon said:

...?? 8% down to 6? Really? Where exactly?

 

Lil' roll of cookies, down to 4 pcs from 6 at same price, that's more like 34% plus in my book, hellofa shrinkflation.

 

 

We understand that Evil-Corp does just that! 
For instance, take a number of Western bottlers of well-known colas.

I've watched cola prices since I arrived here 15 years ago. 
First the prices go up marginally.  A single baht at a time.
Then the amount in the bottle goes down a few milliliters at a time.

Eventually you have Plastic Bottles <---- (i.e., plastic waste, being sold with the bottles only 4/5th full - Or Less).  Now it's getting even stupider.  They change the shape of the bottles shrinking the bottom or the bottles in various places, and decreasing the amount of the product.  It really is ridiculous. 
It Is Meant To Deceive The Consuming Public!

So myself?  I like a cola occasionally.  But there are some manufacturers that I refuse to buy now.  Too expensive; and too obvious with their Shrinkflation. 
I'd name those I refuse to purchase -  but in this day and age - criticize a deceitful corporation and Evil-Corp (deep pockets) files criminal and civil lawsuits to shut you up, and in many cases have the intent to send you to prison for your criticism - which in turn?  Shuts up any other consumer who also perceives the con game.

Obviously the ignorant in this deceitful world keep Evil-Corp alive as they openly con the public.  What they do is deceitful and should be illegal, but?  It makes them tons of profit which they share with the political class who keep their con-jobs alive and highly profitable.  Really really really - What they do with deceitful as well as Evil.  "Shrinkflation" should be patently illegal.  But......it's endorsed by the political class (who really are bought and paid for).

How does this end?  It ends when Somchai/Sompuuying/Joe-Public becoming sophisticated enough to spot Con-Jobs and then react in the free-market by boycotting deceitful corporations. 
Will that happen?  Probably not.  Most of the general public are dumber than a hammer (and I'm giving hammers a bad name).  I don't know. Maybe one day the sheer magnitude of deceitful malice can't be ignored by even the dumbest member of the public.

[Cake Monster]

More smoke and mirrors from the Gov,t

The true rate of Inflation, as everybody knows , is close to 10 %

Thailand is struggling to attract ( read as lure ) Investors and their Money. 

The US Fed raising the Interest rates has left Thailand up S22t Creek with no paddle, and the capital outflows are increasing rapidly every Day due to the difference in those Interest rates between Thailand and the US

Government policy during Covid to help the Economy was to lend ridiculous amounts of Money at very low interest rate and long repayment terms. Because of this policy, so many people are now either due to be NPL or are living on borrowed time. If the Govt puts up the Interest Rates here, thee will be massive amounts of NPL, so they have to try and bluff a way out of the hole they are in.

 

[BritScot]

Thailand is no longer cheap! When we were thinking of leaving in 2019 I started comparing prices from where we shopped and tesco in the uk and I found uk a lot cheaper. Looked at fuel cheaper in Thailand but in the uk I would not own a big 3lt suv and drive less miles the only thing that was less "electric". Oh clothes that used to be so cheap in Thailand are now far, far cheaper in the uk even vehicles are far more expensive even when made in Thailand then exported to the UK. These profits are swallowed by the rich in Thailand and do not see the poor benefiting with uk style wages...

[kidneyw]

7 hours ago, webfact said:

Commerce Minister Jurin Laksanawisit came out to say that a survey of price of food and other necessities found that prices of food such as pork, rice, paddy, chicken and others have all seen a decline.

I wonder what his wife says. Bet she has a better idea.

[MrJ2U]

"inflation could be less than 6% for October"

 

Someone should let them know its already November. 

[spidermike007]

Total fiction. Though a few products might be going up and down, most are going up. Inflation is here to stay for awhile. Though not nearly as bad as in the US, or Europe. 

[Maha Sarakham]

7 hours ago, BritScot said:

Thailand is no longer cheap! 

Very true, most food, brand name clothing, cars, pretty much anything other than housing is cheaper in the US than Thailand now.

The real value of Thailand lies in the extremely affordable rental or housing rates, which is a large chunk of most monthly expenditures.

[still kicking]

7 hours ago, BritScot said:

Thailand is no longer cheap! When we were thinking of leaving in 2019 I started comparing prices from where we shopped and tesco in the uk and I found uk a lot cheaper. Looked at fuel cheaper in Thailand but in the uk I would not own a big 3lt suv and drive less miles the only thing that was less "electric". Oh clothes that used to be so cheap in Thailand are now far, far cheaper in the uk even vehicles are far more expensive even when made in Thailand then exported to the UK. These profits are swallowed by the rich in Thailand and do not see the poor benefiting with uk style wages...

I don't live in the UK but I think you are right I moved away from Thailand many years ago and I haven't looked back  

[nigelforbes]

12 hours ago, BritScot said:

Thailand is no longer cheap! When we were thinking of leaving in 2019 I started comparing prices from where we shopped and tesco in the uk and I found uk a lot cheaper. Looked at fuel cheaper in Thailand but in the uk I would not own a big 3lt suv and drive less miles the only thing that was less "electric". Oh clothes that used to be so cheap in Thailand are now far, far cheaper in the uk even vehicles are far more expensive even when made in Thailand then exported to the UK. These profits are swallowed by the rich in Thailand and do not see the poor benefiting with uk style wages...

You can't sensibly compare the cost of living in two countries that way, just on a few items, you have to compare lots of cost of living expenses. For example, if in the UK you have to pay Council Tax, there is no equivalent here. And comparing Tesco UK with Tesco Thailand for the cost of food purchases seems silly when the same  but fresher products are available at markets at a much cheaper cost. If I compare say Leicester UK and Chiang Mai Thailand, the numbers show that Chiang Mai is 37% cheaper, if rent is included Chiang Mai is 43% cheaper. 

 

https://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=United+Kingdom&country2=Thailand&city1=Leicester&city2=Chiang+Mai

[hotchilli]

20 hours ago, webfact said:

hailand, like other countries has been facing a cost push inflation

Gouging is the term you're looking for.

[Laughing Gravy]

I see that Thailand is following the China model of  trying to give 'hopium' to the people with, could be. maybe, possibly, potentially and all the other words that don't really tell the truth but give hope.

Lets wait to see the inflation figures but the government will 'kick the can down the road again'.

[BritScot]

7 hours ago, nigelforbes said:

You can't sensibly compare the cost of living in two countries that way, just on a few items, you have to compare lots of cost of living expenses. For example, if in the UK you have to pay Council Tax, there is no equivalent here. And comparing Tesco UK with Tesco Thailand for the cost of food purchases seems silly when the same  but fresher products are available at markets at a much cheaper cost. If I compare say Leicester UK and Chiang Mai Thailand, the numbers show that Chiang Mai is 37% cheaper, if rent is included Chiang Mai is 43% cheaper. 

 

https://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=United+Kingdom&country2=Thailand&city1=Leicester&city2=Chiang+Mai

I would disagree with those figures in real life. What my experience is as a family of 4 living in the uk we are far better off. We shopped in Tops, call me old fashion  but seeing flies walking all over food at a market puts me off. Moving back to the UK I saw how how much fresher the food was. No more green worms and brown spots on cauliflower let alone the poisonous chemicals on grown produce. Sea food is far nicer and I even eat fish again (I found fish in Thailand had a paper taste but maybe that was just me). The things I miss about Thailand are my Thai friends and western friends "good people", the weather and our weekends at Krabi along with group trips to the beautiful hidden beaches of Trang, oh and my motorbikes and of course the heat which helps old bones. If I were to ask my children and wife if they wanted to go back to Thailand the answer is No!