Inflation rate hits 16-month low

[webfact]

 

by Tanakorn Sangiam

BANGKOK (NNT) - Thailand’s inflation rate has continued to recede, with the latest rate hitting a 16-month low at 2.67%, while prices of many items have however increased.

 

Trade Policy and Strategy Office (TPSO) director Poonpong Naiyanapakorn said the inflation rate is expected to decrease further in May to below 2%, in line with retail pricing of products used for the calculation, and lower year-on-year fuel prices.

 

TPSO will continue to monitor risk factors that may affect the inflation rate, including the high cooking gas price, the drought disaster affecting agricultural produce, and the recovery of the tourism sector that may affect the prices of goods and services.

 

From its latest round of monitoring, TPSO has reported a price increase of 334 articles of goods and services from 430 being monitored. These include electricity, diesel, and cooking gas; while prices of 58 articles including vegetable oil, pork, and cabbage have decreased.

 

Compared to other economies, the TPSO chief said the March inflation rate in Thailand was the 14th lowest among 133 economies, and the lowest among 7 ASEAN countries that disclosed their inflation figures, namely Laos, the Philippines, Singapore, Indonesia, Malaysia, and Vietnam.

 

Full story: https://thainews.prd.go.th/en/news/detail/TCATG230504091534857

 

-- © Copyright NNT 2023-05-04

 

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[nigelforbes]

I don't believe the numbers, inflation typically doesn't fall that quickly, not from that height. The idea that May will see 2% seems unlikely, but there again, an election is very near!

 

https://tradingeconomics.com/thailand/inflation-cpi

 

[ezzra]

I don't believe any numbers the government comes up with, Period.

[tgw]

all depends on how the basket is composed and where retail prices were measured.

 

typically, these baskets are out of touch with reality all around the globe.

[nigelforbes]

Far be it for me to muddy the waters on this but the CPI graph looks very very different from the supposed inflation graph above! Now I know that there's inflation, core inflation (doesn't include energy and food) and then there's CPI.....but!! @tgw

 

https://tradingeconomics.com/thailand/consumer-price-index-cpi

 

Edited May 4, 2023 by nigelforbes

[Will B Good]

Inflation here.....greed-flation in the West......Looking at company reports for the UK, many are now coming in ahead of expectations......rip off Britain.

[worgeordie]

Thailand’s inflation rate has continued to recede, ......while prices of many items have however increased.

 

so which is it , food, electric ,diesel ,all still going up , so what has decreased in price , Oh Mangos

are really cheap now. try cooling your house with them...

 

regards Worgeordie

[hotchilli]

2 hours ago, ezzra said:

I don't believe any numbers the government comes up with, Period.

Only numbers?

[Andycoops]

Fake news.

If electricity bills like mine have risen by 30+,% and those over the minimum limit also then it doesn't add up...

But then little does with the bureaucracy here they just pump out mumbo jumbo all the time.

Edited May 4, 2023 by Andycoops

[mikebell]

It's certainly not decreased in Tops near me.

[ThailandRyan]

As I have said in my posts on many OPs regarding inflation etc...the numbers this governments pumps out make no sense. To me inflation is still climbing. Looking over my spreadsheets on my expenditures for the past 2 years my costs have risen almost 20% for the same items, which Include my fuel costs as well as food costs.  Household cost increases are up across all items except one, my water bill has stayed constant. Prices for eating out have also increased, this can be attributed to rising fuel prices for cooking gas, fuel for transporting items needed, buying g said items which have increased. Not sure what the basket of goods they use to determine this decreasing inflation figure includes that people use on an everyday basis, and what's not included that people use the most.

 

Just my viewpoint.

[sammieuk1]

Here's a couple of things that say's more like massive increase going on here 

 

A can of OFF from Tops or Tesco 145bt now 185bt  a 1kg tub of Greek yogurt 245bt now 289bt ????    

[SoilSpoil]

Seen most of the prices significantly up,I wonder what went down. The price of hot air maybe.

[ThailandRyan]

Made a request a few days ago for a quote for work to be done outside of the condo in Bangkok, tile replacement and painting on my 3 balconies, Quote came in, but this morning had an e-mail indicating he needed to raise the prices as the costs of the tile, and other items has increased.  Good thing I had not told him to go ahead with the work based upon his original quote.  All items are increasing it appears.

[StayinThailand2much]

Yeah, right...

 

Went to one of the big supermarkets today. Saw a jelly donut in a single pack; 20 baht... Not long ago one could buy 4 or 5 of those for 30 baht (2022), or 6 for 25 or 30 baht (2020ish).

 

Same for other items; package sizes shrinking by a third or so, while prices are up by 50% and more on top of that. You see some rice dishes with chicken or eggs; 120 baht. Don't seem to be very popular though, cause lots of them still for sale in the evening.

Edited May 5, 2023 by StayinThailand2much

[StayinThailand2much]

On 5/4/2023 at 10:10 AM, webfact said:

These include electricity, diesel, and cooking gas; while prices of 58 articles including vegetable oil, pork, and cabbage have decreased.

 

That explains it! Considering that whole aisles in supermarkets and convenience stores are dedicated to vegetable oil...

[Adumbration]

This is because the basket of goods upon which the Thai government calculates the CPI figure consists of rice paddy snails, a couple of frogs, a rice rat, a handful of wild mushrooms and a plastic drink bottle full of beetles.  That is what many rural Thai families are now living on day to day so it is only fair that it is used as the yardstick to calculate inflation.

[bignok]

8 minutes ago, Adumbration said:

This is because the basket of goods upon which the Thai government calculates the CPI figure consists of rice paddy snails, a couple of frogs, a rice rat, a handful of wild mushrooms and a plastic drink bottle full of beetles.  That is what many rural Thai families are now living on day to day so it is only fair that it is used as the yardstick to calculate inflation.

What about Sangsom?

[Adumbration]

38 minutes ago, bignok said:

What about Sangsom?

No one drinks Sangsom in Nakon Nowhere.  Have you ever visited Thailand?

[bignok]

1 minute ago, Adumbration said:

No one drinks Sangsom in Nakon Nowhere.  Have you ever visited Thailand?

They do in Khon Kaen, Nong Khai and Udon Thani.

 

Where is Nakon Nowhere?

[bignok]

2 hours ago, StayinThailand2much said:

Yeah, right...

 

Went to one of the big supermarkets today. Saw a jelly donut in a single pack; 20 baht... Not long ago one could buy 4 or 5 of those for 30 baht (2022), or 6 for 25 or 30 baht (2020ish).

 

Same for other items; package sizes shrinking by a third or so, while prices are up by 50% and more on top of that. You see some rice dishes with chicken or eggs; 120 baht. Don't seem to be very popular though, cause lots of them still for sale in the evening.

Most 7/11 prices are the same as a year ago.

[Adumbration]

15 hours ago, bignok said:

Most 7/11 prices are the same as a year ago.

 

15 hours ago, bignok said:

Most 7/11 prices are the same as a year ago.

 

17 hours ago, StayinThailand2much said:

Yeah, right...

 

Went to one of the big supermarkets today. Saw a jelly donut in a single pack; 20 baht... Not long ago one could buy 4 or 5 of those for 30 baht (2022), or 6 for 25 or 30 baht (2020ish).

 

Same for other items; package sizes shrinking by a third or so, while prices are up by 50% and more on top of that. You see some rice dishes with chicken or eggs; 120 baht. Don't seem to be very popular though, cause lots of them still for sale in the evening.

I agree entirely. Just a few year back I used to buy donuts at big C and Tesco for 5 bath each.  They are 20 baht each now.

 

It is a sad and confronting reality that I can longer afford the donuts and have to settle for just buying the holes.

Edited May 6, 2023 by Adumbration

[bignok]

26 minutes ago, Adumbration said:

 

 

I agree entirely. Just a few year back I used to buy donuts at big C and Tesco for 5 bath each.  They are 20 baht each now.

 

It is a sad and confronting reality that I can longer afford the donuts and have to settle for just buying the holes.

Free holes. Big bonus.

[BigStar]

On 5/4/2023 at 11:40 AM, ezzra said:

I don't believe any numbers the government comes up with, Period.

While offering no numbers of your own.

 

But if they reflect bad news, we believe them wholeheartedly. Then we may even reverse our older sneers about last year's good figures and endorse them so that we can enhance the dramatic contrast and portent of the current bad news.

[StayinThailand2much]

1 hour ago, Adumbration said:

It is a sad and confronting reality that I can longer afford the donuts and have to settle for just buying the holes.

LOL. You gave me an idea. If I want to buy jelly donuts again, I'll ask them to peel them for me and just sell me the jelly. Better than not buying any...

[zzaa09]

On 5/3/2023 at 9:52 PM, Will B Good said:

Inflation here.....greed-flation in the West......Looking at company reports for the UK, many are now coming in ahead of expectations......rip off Britain.

Though, not to be outdone, the U.S. is the overwhelming champion of highly deluded and fanciful economies - and more than in trouble with more and more countries abandoning their ship. BRICS [and associations] is just the tipping point.

 

[BenStark]

Anyone in this thread, and you know who I have in mind, that want to claim that the 2.7% inflation rate is not a fake number, doesn't live in Thailand or is just looking for an argument by ridiculing other members posts without adding anything to the topic.

 

I can out of my head quote 10 every day products, made in Thailand with Thai produce, that have increased in price by a minimum of 20% in the last 12 months.

 

I don't even talk about imported foods that have increased by 200%, since they are most likely not included in the index.

 

By the way, Makro seems to b the worst. I visit Makro once a week, and there doesn't pass a single week that there are no significant price increases.

 

Many of their cash and carry assortment is now higher priced than Big C. I don't visit Lotussssss', owned by the same monopoly, but I presume they will have a similar price strategy.

[soi3eddie]

No way is Thai inflation at 2.7%. Food and fuel are always increasing. Whether in the local market, at one of the big "super"-markets, street stalls or local wet markets prices are up, up and up . Even boat noodles have risen in price well beyond 2.7%. Does any normal person (Thai or foreigner) really beleive this figure? 

As a comparison, inflation in Laos, a next door neighbour is over 40%. Maybe both are skewed a bit, as different economies, but there is no way that Thailand is at 2.7%. Let's hope that the upcoming election results will be more accurate and honest!

LAOS inflation

More reading: https://laotiantimes.com/2023/04/21/laos-records-40-8-percent-inflation-rate-in-first-quarter-of-2023/

 

THAILAND inflation

[cmjl]

13 hours ago, bignok said:

Free holes. Big bonus.

Donuts with less fattening centres

[Pink Mist]

Troll post removed. Please stay on topic.