Thai Inflation Rate Falls for Fifth Straight Month

[webfact]

    
BANGKOK (NNT) - Thailand’s inflation rate fell for the fifth straight month in May amid lower electricity and fuel prices. However, experts warned that inflation could rebound due to a possible increase in minimum wages and the upcoming drought season.

 

Wichanun Niwatjinda, Deputy Director of the Trade Policy and Strategy Office, reported that the country’s inflation rate fell to 0.53% in May - the lowest in 21 months. Non-food and non-drink prices fell 1.83% despite increases in vegetable and egg prices due to reduced production. Meanwhile, the price of processed food has increased as a result of higher production costs.

 

Despite the low inflation rate, the deputy director warned various factors - such as the upcoming drought season, which would disrupt production, and the proposed minimum wage increase, which will affect production costs - could cause inflation to rise in the coming months.

 

The Thai National Shippers’ Council meanwhile reported that industrial exports, including electronic equipment and appliances to the U.S. and China, decreased by 7.6% in April year-on-year. It forecast that export growth would decrease by 1% year on year in 2023, urging the new government to promote more exports while taking care not to jeopardize small and medium-sized firms while adjusting policy rates.

 

by Paul Rujopakarn

 

Full story: https://thainews.prd.go.th/en/news/detail/TCATG230608111000057

 

-- © Copyright NNT 2023-06-08

 

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[BenStark]

8 minutes ago, webfact said:

The Thai National Shippers’ Council meanwhile reported that industrial exports, including electronic equipment and appliances to the U.S. and China, decreased by 7.6% in April year-on-year. It forecast that export growth would decrease by 1% year on year in 2023,

Exports have decreased for the 4th consecutive month, between 4.6 and 7.6% each month, yet they expect only 1% decrease in the year?

https://thainews.prd.go.th/en/news/detail/TCATG230331140804689

For the first two months of 2023, Thai exports fell by 4.6% to 42.6 billion U.S. dollars.

 

industrial product exports declined for a fifth consecutive month in February, falling 6.2% to 17.6 billion dollars.

 

Others even expect exports to grow in 2023

 

https://www.thailand-business-news.com/economics/97835-thai-exports-to-expand-by-1-2-in-2023-scb-eic

 

According to SCB EIC, Thailand’s export value in 2023 is expected to grow by 1.2%, despite a continuous decline in February.

 

I want something of what they smoke

[spidermike007]

Total nonsense. Nothing but lies, fabrications and PR. Inflation is not going down here, or anywhere else, at this time. Sure, you can always find commodities to use for a chart, that have no bearing on our lives. But, most of us are not fooled by the nonsense and the lies.

[Chivas]

Inflation falling and so is the Baht.....weakened sharply against the Benchmark this last month

 

 

[JoePai]

in May amid lower electricity and fuel prices

 

Umm mine went up - and quite a lot  ????

[vinci]

there are no inflation only price gouging

[worgeordie]

34 minutes ago, webfact said:

Thailand’s inflation rate fell for the fifth straight month in May amid lower electricity and fuel prices.

Must have missed that somehow , lower inflation ,that's why they must have upped

the bank rates again, most of the food stuffs i buy weekly go up in price, also shrinkflation,

the wife's always saying look at this ,with whatever bunch or bag of produce she buys in

the market ,half the size and more expensive.....

 

regards worgeordie

 

[Mickeymaus]

4 minutes ago, worgeordie said:

Must have missed that somehow , lower inflation ,that's why they must have upped

the bank rates again, most of the food stuffs i buy weekly go up in price, also shrinkflation,

the wife's always saying look at this ,with whatever bunch or bag of produce she buys in

the market ,half the size and more expensive.....

 

regards worgeordie

 

And then the imported goods. My US mustard went from 60 to 160 Baht and this is only one example. But also the local products went up a lot. But okay, who for instance needs eggs? Or meat? Or food at all...

[smedly]

3 hours ago, spidermike007 said:

Total nonsense. Nothing but lies, fabrications and PR. Inflation is not going down here, or anywhere else, at this time. Sure, you can always find commodities to use for a chart, that have no bearing on our lives. But, most of us are not fooled by the nonsense and the lies.

they pull figures out of their ###, i don't trust anything this government says about anything, sooner or later they will caught out and the ## will hit the fan.

 

I'll bet that mask comes off as soon the press statement is over, for some reason only known to them they want to covid a thing, why ?

[rickudon]

Cheese in Makro went up by over 10% last week. I know, probably not in the Thai CPI. Main problem is shrinking packet sizes, e.g. 85g instead of 100g, same price. Bet that isn't accounted for.