How bad has inflation been in Thailand the past few years?

[Cryingdick]

I no longer live over there but the question speaks for itself. 

[Furioso]

It's definitely raised it's ugly head, a lot of prices have gone 50%, even 100%. Nowadays have to look for discounts.

 

Rents have gone up too but thankfully we can still find cheap places to live because they overbuilt. 

[Mike Lister]

The official BOT numbers on inflation are very low, but they are not realistic. Over 48% of the workforce earns money in the grey economy or unofficial labour force which isn't tracked and doesn't report so we have no idea what their earnings or price increases have been. 

 

https://www.bot.or.th/en/thai-economy/economic-outlook.html

 

[worgeordie]

Government numbers are far from realistic , in the real world it's different,

prices up , smaller products , especially any Farang foods ...

 

regards worgeordie

[Cryingdick]

5 minutes ago, Mike Lister said:

The official BOT numbers on inflation are very low, but they are not realistic. Over 48% of the workforce earns money in the grey economy or unofficial labour force which isn't tracked and doesn't report so we have no idea what their earnings or price increases have been. 

 

https://www.bot.or.th/en/thai-economy/economic-outlook.html

 

 

i am nit talking about any of that i am trying to find out the reality. 

[Mike Lister]

1 minute ago, Cryingdick said:

 

i am nit talking about any of that i am trying to find out the reality. 

The inflation reality of what product? Not all products price inflate at the same rate and since you don't want official figures, unofficial figures will vary from person to person based on what they buy and what they see.

[Gsxrnz]

A friend told me that gogo bars are now double the price from the pre-cervasa period. 

[Cryingdick]

9 minutes ago, Mike Lister said:

The inflation reality of what product? Not all products price inflate at the same rate and since you don't want official figures, unofficial figures will vary from person to person based on what they buy and what they see.

 

i am looking for everyday prices, auch as the price of a room, the price of a beer or meal in Pattaya. The price of groceries. The price of petrol. I am not looking for a big boring list if inflationary numbers from a government source. I am asking if the cost of living has gone up and if so on what? 

 

 

Okay let's make it simple does a tuk tuk cost more than two years ago and if so by how much? That sort of thing.

[bignbad]

10 minutes ago, Cryingdick said:

 

i am looking for everyday prices, auch as the price of a room, the price of a beer or meal in Pattaya. The price of groceries. The price of petrol. I am not looking for a big boring list if inflationary numbers from a government source. I am asking if the cost of living has gone up and if so on what? 

 

 

Okay let's make it simple does a tuk tuk cost more than two years ago and if so by how much? That sort of thing.

yes.......

 

[Mike Lister]

Inflation is different things to different people, based on where they live, where they shop, what they consume. The inflation rate for imported goods, imported food and alcohol is very high because the Baht is weak. Inflation in Pattaya and other westerner tourism areas is much higher than in the sticks. A westerner in Patay who eats imported foods, drinks imported booze is likely to be 20% per year or higher. The farang who lives in Issan and eats Thai food and drinks Chang, inflation is likely to be 3% on average or thereabouts.

 

The price of petrol/diesel is the same nationwide, +/- one satang or so based on distance from Bangkok, plus it's subsidised.

[Cryingdick]

2 minutes ago, Mike Lister said:

Inflation is different things to different people, based on where they live, where they shop, what they consume. The inflation rate for imported goods, imported food and alcohol is very high because the Baht is weak. Inflation in Pattaya and other westerner tourism areas is much higher than in the sticks. A westerner in Patay who eats imported foods, drinks imported booze is likely to be 20% per year or higher. The farang who lives in Issan and eats Thai food and drinks Chang, inflation is likely to be 3% on average or thereabouts.

 

The price of petrol/diesel is the same nationwide, +/- one satang or so based on distance from Bangkok, plus it's subsidised.

Okay. I respect your opinion but would live to hear from others that give real world experiences. I am basically asking 8ng how much mire expensive Thailand has become and inflation effects everybody regardless of their lifestyle it doesn't discriminate . 

[OneMoreFarang]

1 hour ago, Cryingdick said:

the question speaks for itself. 

Not really.

I guess if you would want to know the official numbers you could look them up.

So unofficially, how is inflation?

In some areas lady drinks are double of what they used to be not too long ago. Other services are also more expensive.

Some condominiums still cost the same as years ago.

 

Maybe your question is more like: Would living in Thailand in the way I used to live be a lot more expensive than years ago?

I think it would depend a lot on your style of living.

 

[Cryingdick]

2 minutes ago, OneMoreFarang said:

Not really.

I guess if you would want to know the official numbers you could look them up.

So unofficially, how is inflation?

In some areas lady drinks are double of what they used to be not too long ago. Other services are also more expensive.

Some condominiums still cost the same as years ago.

 

Maybe your question is more like: Would living in Thailand in the way I used to live be a lot more expensive than years ago?

I think it would depend a lot on your style of living.

 

It really isn't that hard unless you want it to be. Okay let's break it down and unpack it for you. Does it cost you more today than ti did before the pandemic? If yes, on what? Let's not get too fancy about the matter. There are other threads asking about  places in the USA where inflation is a big deal. So i  wonder how it compares. The USA is going through a terrible bout of inflation. 

[1FinickyOne]

36 minutes ago, Cryingdick said:

Okay let's make it simple does a tuk tuk cost more than two years ago

poor example as tuk tuks are mostly negotiable and there are tourist 'take me shopping' tun tun and others fir transport... 

 

And it would be difficult to judge by any one item because there are sales and exceptions...

 

Generally, many items have gone up a considerable expense... over they years... that 20 baht noodle soup is now likely 40 baht...

[Cryingdick]

1 minute ago, 1FinickyOne said:

poor example as tuk tuks are mostly negotiable and there are tourist 'take me shopping' tun tun and others fir transport... 

 

And it would be difficult to judge by any one item because there are sales and exceptions...

 

Generally, many items have gone up a considerable expense... over they years... that 20 baht noodle soup is now likely 40 baht...

 

Okay my example was poor that is exactly why I asked the question. So noodle soups have doubled in price? 

[1FinickyOne]

1 minute ago, Cryingdick said:

 

Okay my example was poor that is exactly why I asked the question. So noodle soups have doubled in price? 

I would think they have, but not sure over how long a period of time... I would say that if you are looking at the last 2-4 years, you might expect an average of 30-40 % increase on your daily/monthly expenses

[Cryingdick]

1 minute ago, 1FinickyOne said:

I would think they have, but not sure over how long a period of time... I would say that if you are looking at the last 2-4 years, you might expect an average of 30-40 % increase on your daily/monthly expenses

 

so it is pretty similar to what i am experiencing in the usa, thank you for that response I get it.

[OneMoreFarang]

5 minutes ago, Cryingdick said:

Does it cost you more today than ti did before the pandemic? If yes, on what?

Personally, for me, I think daily life is not much more expensive than a couple of years ago.

 

Nightlife is considerably more expensive. But I don't go out so much anymore, so for me personally that is no big deal. 

[Cryingdick]

1 minute ago, OneMoreFarang said:

Personally, for me, I think daily life is not much more expensive than a couple of years ago.

 

Nightlife is considerably more expensive. But I don't go out so much anymore, so for me personally that is no big deal. 

I suppose the price of Viagra doesn't matter if you aren't using it. I am just joking. Anyway i had a few good answers and am done we can shut this thread.

[BritManToo]

My pension rises have vastly outpaced any inflation in Thailand.

[Cryingdick]

3 minutes ago, BritManToo said:

My pension rises have vastly outpaced any inflation in Thailand.

Unless you express that in percentage's it has no meaning. God bkess this site the easiest questions become convoluted .

[BritManToo]

1 minute ago, Cryingdick said:

Unless you express that in percentage's it has no meaning. God bkess this site the easiest questions become convoluted .

Before COVID I was spending all.

Today I have 20% I don't spend.

 

Also need to take into account GBP exchange rate 15% up since COVID.

[Mike Lister]

Price inflation in Thailand is nothing like price inflation in the West, especially not the US. The US Fed rate is over 5%, the BOT rate here is half that figure. Plus there are price controls on many things here, fuel, food stuffs and over 50 commonly used products. The US has no equivalent.

 

 https://asianews.network/thailand-cabinet-extends-control-on-price-of-51-goods-and-services-by-another-year/#:~:text=by another year-,Thailand cabinet extends control on price of 51 goods and,paper%3B petroleum%3B and medicines.

[OneMoreFarang]

13 minutes ago, Cryingdick said:

Unless you express that in percentage's it has no meaning. God bkess this site the easiest questions become convoluted .

I guess next you will ask what the best restaurant in town is. And then you will complain that your definition of "best" is not compatible with others.

If you want a clear answer, then it helps to ask a clear question. 

[BE88]

Frankly I don't know, what I do know is that my wife is asking me for more money so I suppose that yes, life has become more 40% expensive, This 40% is my wife's request

[Gecko123]

Labor costs have gone up. Daily minimum wage now stands at 363 baht. Not an out-of-control wage-price spiral, but noticeable nevertheless, and I expect that to continue at a moderate pace for some time.

 

Climate change (extreme weather, water scarcity, greenhouse infrastructure) have driven up food production costs, especially for meat and dairy, but also fresh produce, especially fruits, esp. imported fruits.  Thailand is not immune from climate change damage to the agricultural sector, and prices for animal feedstocks such as corn and cassava have gone up significantly, which feed directly into meat and dairy prices. Some imported foods seem to be slightly cheaper than costs reported back home, i.e., olive oil, but I chalk that up to lower overhead (labor costs, rents) in Thailand. 

 

Anything ordered directly from overseas be it clothes, shoes, gourmet food, housewares are pretty much the same price you're paying in US, and import tariffs can be quite steep.

 

Medical and dental fees at private hospitals have gone up considerably in past 5 years.

 

Relatively speaking,  overall inflation has been fairly well-contained in recent years, but I would anticipate that rising labor costs and food production costs will continue to keep inflationary pressures on a moderately upward trajectory for the foreseeable future.

 

Your exchange rate risk, ESPECIALLY with the USD, runs an infinitely higher risk of jeopardizing your standard of living in Thailand than the local inflation rate. As soon as the Fed starts trimming interest rates, you can fully expect the dollar to take a nose dive. This has the potential to have a far greater impact on your standard of living than the local rate of inflation will ever have.

 

[KhunLA]

47 minutes ago, Cryingdick said:

Unless you express that in percentage's it has no meaning. God bkess this site the easiest questions become convoluted .

There is no 'across the board inflation'.   The last 5 years is a bit 'subjective' with covid  dominating 3 of them.   Comparing 2019 to 2024, doesn't mean 2024 to 2029 will be even close to the same inflation.

 

Many members, the few that live here, live different lives, so see inflation differently.   Those living more a Thai lifestyle, shopping, dining, Thai catering vendors, owning vs renting will see inflation different than those renting, avoiding Thai food, and eating, buying more western, import goods and food, along with different dining out preferences.

 

Long piece of string, and some things have remained near the same prices, others I've 5-10-20% in just last week, month or year.   Really depends on the item, what and where purchased, along with imported or local.

 

Contracted home builder, 2022 was same price as 10 yrs ago.

Made in TH cars, maybe 25% increase over the last 20+ years.

EVs remain the same since 2019, or even come down in price, even though upgraded since.

 

Food essentials; eggs, meats, seafood & veggies have skyrocketed in price.  Is that really inflation, or price gouging by CP, and their new monopoly of chains.  Fresh / wet markets, not the same inflation rate.

 

Dining out Thai style, hasn't reflected those increases.

All relative to where you shop.

 

AND ... how savvy a shopper you are 

[Mike Lister]

1 minute ago, Gecko123 said:

Labor costs have gone up. Not an out-of-control wage-price spiral, but noticeable nevertheless, and I expect that to continue at a moderate pace for some time.

 

Climate change (extreme weather, water scarcity, greenhouse infrastructure) have driven up food costs, especially for meat and dairy, but also fresh produce, especially fruits, especially imported fruits.  Thailand is not immune from climate change damage to the agricultural sector, and prices for animal feedstocks such as corn and cassava have gone up significantly, which feed directly into meat and dairy prices. Some imported foods seem to be slightly cheaper than costs reported back home, i.e., olive oil, but I chalk that up to lower overhead (labor costs, rents) in Thailand. 

 

Anything ordered directly from overseas be it clothes, shoes, gourmet food, housewares are pretty much the same price you're paying in US, and import tariffs can be quite steep.

 

Medical and dental fees at private hospitals have gone up considerably in past 5 years.

 

Relatively speaking,  overall inflation has been fairly well-contained in recent years, but I would anticipate that rising labor costs and food production costs will continue to keep inflationary pressures on a moderately upward trajectory for the foreseeable future.

 

Your exchange rate risk, ESPECIALLY with the USD, runs an infinitely higher risk of jeopardizing your standard of living in Thailand than the local inflation rate. As soon as the Fed starts trimming interest rates, you can fully expect the dollar to take a nose dive. This will have a far greater impact on your standard of living than the local inflation rate will ever have.

Excellent point, medical costs have been rising at over 8% a year, every year, for the past five years at least. 

 

https://www.wtwco.com/en-hk/news/2022/10/healthcare-benefit-costs-in-asia-pacific-projected-to-jump-by-10-2-percent-in-2023

[retarius]

I only buy groceries and healthcare and it has been very high indeed if you add in shrinkflation, crapflation and regular old inflation. I buy a lot of foreign foods and the inflation on these has been scandalous. Funny thing is wages haven't gone up and many inputs eg milk in milk, yogurt, cheese, butter (which now comes in 200gram packs, reduced from 250g, and the prices have still gone up) etc haven't increased in price so why have the derived dairy foods gone up so much......especially those made in Thailand. 

[Stocky]

If I compare my expenditure on food, clothes and leisure then my spending has remained pretty much the same just looking back over the last five years. However, my base currency is the Singapore Dollar, the Thai Baht has depreciated some 23% over the last 5 years. So that implies inflation in Thailand over the last 5 years amounts to approximately 23% for me living in Hat Yai.