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

[Ralf001]

Price of beer and ciggies has increased my weekly spend by 50%.

Everything else, not so much.

[Furioso]

In the last 6 months I've noticed many of the light pastries at 7/11 have gone up on avg 40-60%.

 

Examples:

• Some from 15 baht to 20 baht
• Some from 15 baht to 25 baht
• Some from 20 baht to 25 baht
• Some from 25 baht to 30 baht

[rwill]

where I live the 30baht noodle places have gone up to 50 baht

[tgw]

6 hours 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.

 

misleading.
prices were much lower for imported goods 10-15 ago, yet the baht was 25% weaker then.

[Robert Paulson]

I got a kilo of chicken breast 10 years ago: 40 baht. 
Go grab a kilo of chicken breast today: 40 baht 

[Mike Lister]

33 minutes ago, tgw said:

 

misleading.
prices were much lower for imported goods 10-15 ago, yet the baht was 25% weaker then.

Well yes, they would be! If a barrel of imported oil costs USD 75, it costs more to buy when the Baht is weak at 37 than it does when it's stronger at say 31. Plus the price of a barrel of oil is not always USD 75, the product itself can suffer from price inflation also.

[tgw]

Some good indicators for inflation are consumer goods and services made in Thailand.

 

For example, a box of 24 Chang sparkling water (325ml) was around 105 baht in Makro ten+ years ago, now its north of 200.
McDonald's: Big Mac Menu XXL used to cost around 189 baht when the baht was very weak.  Now they don't have the XXL fries anymore and the menu costs 270 baht.

KFC: one piece of chicken used to cost 27-28 baht, now it's 55.

The price of beer has greatly increased too, along with shrinkflation both in bottle size (from 660 to 630/620) and in alcohol content.

Groceries have doubled as well, but they were so cheap initially, so it's not a very big deal now either.

 

and the list goes on and on. these products are Thai.

in the last 10 years, prices have doubled.

 

the cause isn't just the higher minimum wage. maybe 10% is caused by the wage. what did cause the rest ?

[Muhendis]

21 minutes ago, tgw said:

the cause isn't just the higher minimum wage. maybe 10% is caused by the wage. what did cause the rest ?

In a word.

Covid.

Many companies lost a lot of money due to lower retail footfall.

Those losses can only be replaced by jacking up prices.

Public companies have no choice in this because of maintaining share value.

Smaller businesses have possibly borrowed from banks etc and need to repay ASAP. 

[Mike Lister]

14 minutes ago, Muhendis said:

In a word.

Covid.

Many companies lost a lot of money due to lower retail footfall.

Those losses can only be replaced by jacking up prices.

Public companies have no choice in this because of maintaining share value.

Smaller businesses have possibly borrowed from banks etc and need to repay ASAP. 

And broken supply chains that increased the cost of shipping. At one point there was no available shipping containers because companies were using them  to store inventory. That made shipping goods far more expensive.

[tgw]

8 minutes ago, Mike Lister said:

And broken supply chains that increased the cost of shipping. At one point there was no available shipping containers because companies were using them  to store inventory. That made shipping goods far more expensive.

talking about Thai products sold in Thailand, the containers and cost of shipping should not have a big impact.

[NorthernRyland]

Thai food that cost 40 baht/plate per COVID is now often 60. I find this shocking given it happened in only a few years. Not sure how people are getting by.

[Mike Lister]

10 minutes ago, tgw said:

talking about Thai products sold in Thailand, the containers and cost of shipping should not have a big impact.

Even products that are sold in Thailand have often rely on imports for components, parts or ingredients, Iron and Steel, mineral oils and fuels, precious stones for the jewelry trade and especially, motor vehicle parts. . 

 

[Surasak]

My personal experience of 'inflation, is more in the way of 'shrinkflation'. Some of the items I buy have dropped in weight but still cost as much. The same thing with the roadside food stalls, you know you are getting less, but still paying the same. A restaurant I visit puts his prices up each year on all food and drink regardless of what he pays for his provisions. Everyone is in the same boat, take your choice and pay up, or go without. Up to you!

[Surasak]

7 hours ago, BritManToo said:

My pension rises have vastly outpaced any inflation in Thailand.

Pension rises, what pension rises! OH! Sorry you mean personal pensions of course?

[khunPer]

9 hours ago, Cryingdick said:

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

Using the consumer price index gives you a good explanation – 2019 = index 100 – however, it depends on your life style; i.e., if you use a lot of something that heavily increase, you feel the inflation is worse...

 

 

 

At present it's about 8% in 4-5 years, so in average it fits nicely within the ideal 2% annual inflation.

[Hummin]

9 hours ago, Cryingdick said:

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

Tax on wine have gone down, and bought a ok wine for 395 last time I was there. 

 

Beef, eggs, pork have went through the roof for the locals, but for me? Not so much

 

Our two week supplies used to be 6500 bath, now about 8000. 

[Kalasin Jo]

I get the impression that prices have gone up alot in the big chain supermarkets where I tend to buy the same things every visit. Seems to me that what used to be an under 2,000 baht spend pre Covid is now nearer 2,500 although I haven't tried nailing which items are the culprits, but with a baht or 3 added it could be all of them.

Availability of items locally has improved a great deal with several new, not Mom & Pop, shops and even a small pharmacy opening just down the road in the last 12 months but still no 7/11. And at last an ATM at one of them.  Many online offerings of western foods with free delivery ( with a minimum  spend) nationwide are there too these days. So I tend to use the big supers far less. It's a 60+km round trip to do so.

I don't eat a great deal of western food these days, always rather limited round these parts, mostly relying now on the local markets for fresh food and the new shops for the packaged things, most dry goods, beer and spirits. Sadly nobody locally sells wine, not even the dreadful fruit wine! There's no demand I guess, so no supply. Compared to " back home" the choice of real wines made with grapes even in the big supers here is very limited and of course expensive. For a decent choice it has to be 75km to Khon Kaen ....and back.

There's been no or minimal change in the price of the Thai beers and spirits that I've noticed. Mom and Pop shops haven't changed their pricing in years but it's a 10 baht " premium" over the new shops, which offer very competitive prices, close to or only a baht or 2 more than the supers 30 kms away.

In the local daily markets I've very recently started to notice price increases on things like fresh eggs,  10 for 40 baht are now 45 baht from my usual stall but it pays to wander as yesterday another was offering 10 for 40 baht. Cooked food to take home is creeping up, I paid 25 baht to a stall holder for a krapow that used to be 20. Yesterday a cake seller I patronise apologised that she is now charging 30 baht for her fancy items after years at 25.

Meals in the simple local eateries have not yet  altered. I can still get a krapow kai dow for 50, sometimes only 40, baht here. New smart eateries and coffee shops where money has been spent on creating ambience are springing up and charge a great deal more for better, classier, food and service.

Our electricity and water bills haven't  changed much in the 7 years I've been here now, apart from last month and this month's shockers due to the heat and heavy use of aircon and alot of water for the garden. Calor cooking gas seems to have gone up by about 50% since I last bought a cylinder.

7 years ago I seem to recall gasoline filling stations were charging around 26 baht a litre, now it's around 38 and briefly was over 40.  Compared to Europe and the UK that's still cheap and the increase doesn't seem to have altered Thai driving habits ( either agonisingly slow or crazily fast, lane switching, overtaking on blind bends or just before the crest of a hill etc etc) nor usage and the huge distances they seem happy to travel as well as jumping on a scooter/ bike for what would be a 2 minute stroll. Massive aggressively styled pick ups, often with luxurious interiors, are replacing the older beat up models which still abound here but there are many more new cars now as well as of course plenty of scooters and small motorbikes, licenced or not, riders often unhelmeted, often kids.  Gas prices don't seem to have affected their riding styles or passenger loading either.

I

 

 

[Robert Paulson]

There’s no inflation. There’s even inverse of inflation. It’s 36 baht for dollar and likely could go much higher in the next year or two. 
 

These threads annoy me because these fat, expat farang show up and tell us how their cheese and wine has doubled. Yes. Of course. It’s silly. If you eat Thai food the costs are the same now as they were a decade ago. If you live right smack in the middle of a huge tourist area of course prices have gone up. But in thai areas they have not. 

[KhunLA]

1 hour ago, Robert Paulson said:

There’s no inflation. There’s even inverse of inflation. It’s 36 baht for dollar and likely could go much higher in the next year or two. 
 

These threads annoy me because these fat, expat farang show up and tell us how their cheese and wine has doubled. Yes. Of course. It’s silly. If you eat Thai food the costs are the same now as they were a decade ago. If you live right smack in the middle of a huge tourist area of course prices have gone up. But in thai areas they have not. 

If you got here, (if here at all), in Feb 2021, then your USD cost hasn't changed as offset the inflation.  Only due to the exchange rate, which doesn't negate inflation for those born here, or got here when it when you got 40-45 baht to the 1 USD, like me, and many others.

 

Along with most things being at least half the price they are now, so yea, i've seen 100% to 300% inflation across the board almost, if not much more for some things.  Especially the essential foods, eggs, meats, seafoods & veggies as I mentioned earlier, since arriving, 2000.

 

Use to get three -0- eggs for 5 baht, now you get 1.

chicken, pork, beef & seafood price all about tripled, or more.

Milk has more than doubled

Butter at least 4X as much and smaller packaging, as stated earlier.

Buy bulk now to help offset that.

 

Aside from food, hotels have gone up 50-100% since 2020/20, and hear people complaining about airfares.  

 

Not sure how you say there's no inflation as that 20% jump in exchange rate from Feb 2021, surely isn't covering those increases.

 

And no, I don't think it will go much much higher, and actually surprised it as remained about 35 to 1 USD as long as it has.  Mind you, I'm not complaining.

Edited May 24 by KhunLA

[pest]

My daily coconut was 25 bht in Kathu Phuket They are now 40bht

My beers are 60 to 100 depending on the bar or happy hours

The tinned goods in Big C have gone up by about 10% 

Pork up slightly Chicken not much change

Still cant afford lamb 

[bradiston]

21 hours ago, Cryingdick said:

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. 

That's to do with gas from excessive eating. 40% of Americans are obese. In Thailand, maybe 3%. Does that answer your question?

 

Actually, no I don't think prices have shot up. Meals cost roughly the same, maybe an extra THB or two for Thai food. But in Makro, pork has gone up, chicken not so much. Fruit and veg still reasonable in the markets. Avocados pricey at 120 THB per kilo for decent ones. Olive oil always expensive, coconut oil not so. Expat foods, butter, cheese, bacon etc etc pretty much the same. There are cheaper outlets and expensive ones. Can get a lot of decent stuff on line (picked beetroot, horseradish etc). Eggs have gone up but that's because I buy organic. I can pay up to 10 THB an egg. Normal CP price is about 4 THB I think for a tray of 36.

 

Rents have gone up, but remember they hit an all time low during COVID. I paid 5500 THB per month for a very decent ground floor one bedroom condo apartment 2 years ago. That's now 8, and is set to go higher every year.

 

Fuel has had a lot of government subsidies so hard to work out. Now it's hovering around 38/39 per litre of 91 octane. If you minimally ride a 125 scooter as I do, that's about 130 THB per week.

 

What else? Hmm. Girls have become a lot pricier, a friend tells me. Many freelancers quote 2000 as a starting price for an hour. You can get for less he says.

 

Don't go to bars and don't drink or smoke, so can't say. Dont use taxis, but Bolt is cheap and handy. Bus to Swampy from Pattaya still at 142 THB. Bargain. Taxi 1000 THB.

 

As for luxuries like spas and massage and the like, compared to Europe they're an absolute gift. Can still get a very decent foot or body Thai massage, no frills or funny business, but lots of laughter, for 120 THB in Pattaya Klang for an hour.

 

That's it! It's easy to live here too, most importantly, in Pattaya at least. Play the immigration game, obey the law, and don't mess with the IRS!

 

An after thought, medicines and medical stuff. My biggest monthly outlay by far is medical insurance. But the pharmacies here, especially the big chains like Fascino, are generally very economical and also helpful. Private hospitals aren't cheap but government ones are. Don't, whatever you do, think you can get away without some form of insurance, accident, inpatient, outpatient, or full medical. Too many horror stories to mention.

Edited May 24 by bradiston

[BoganInParasite]

I've seen a ton of items in the supermarket rise at least 30-50% over the last four years and am quite skeptical of the official inflation figures.

[Robert Paulson]

In 2019 30 baht per dollar more or less. 
2024 hovering around 36 baht per dollar

im not saying everyone gets paid in dollars but you people need to do some math

[Mike Lister]

6 minutes ago, Robert Paulson said:

In 2019 30 baht per dollar more or less. 
2024 hovering around 36 baht per dollar

im not saying everyone gets paid in dollars but you people need to do some math

Why do you think the USD/THB exchange rate is relevant to Thai inflation?

[Robert Paulson]

3 minutes ago, Mike Lister said:

Why do you think the USD/THB exchange rate is relevant to Thai inflation?

Because even if inflation has gone up, which is hasn’t imo, it’s being counteracted by receiving money from overseas at this point in time. 
 

there’s tons of Thais who have been making 10k a month for the last 10 years. Are they living in the gutter now due to inflation? No their lives are roughly the same in my estimation. How could that possibly be if “prices have doubled”? I believe Thai “inflation” is a tax just meant to extract more money from people who have it. If one shops wisely prices have stayed more or less the same, and to answer your question again, they’ve even went down if you’re receiving overseas money in the current environment.

[Mike Lister]

3 minutes ago, Robert Paulson said:

Because even if inflation has gone up, which is hasn’t imo, it’s being counteracted by receiving money from overseas at this point in time. 
 

there’s tons of Thais who have been making 10k a month for the last 10 years. Are they living in the gutter now due to inflation? No their lives are roughly the same in my estimation. How could that possibly be if “prices have doubled”? I believe Thai “inflation” is a tax just meant to extract more money from people who have it. If one shops wisely prices have stayed more or less the same, and to answer your question again, they’ve even went down if you’re receiving overseas money in the current environment.

How many Thai people receive money from overseas, almost none! 

 

I think the subject is inflation in Thailand. I don't think the subject is the effect of inflation on foreigners in Thailand who receive money from overseas!

 

It is amply clear that inflation in Thailand has had a significant negative effect on the Thai population. The BOT raised interest rates eight times over fourteen months in an attempt to get it under control and the rates still haven't come down.

[KhunLA]

1 hour ago, Robert Paulson said:

Because even if inflation has gone up, which is hasn’t imo, it’s being counteracted by receiving money from overseas at this point in time. 
 

there’s tons of Thais who have been making 10k a month for the last 10 years. Are they living in the gutter now due to inflation? No their lives are roughly the same in my estimation. How could that possibly be if “prices have doubled”? I believe Thai “inflation” is a tax just meant to extract more money from people who have it. If one shops wisely prices have stayed more or less the same, and to answer your question again, they’ve even went down if you’re receiving overseas money in the current environment.

Your either blind, and don't live in TH.  As you appear to be clueless.

 

Salaries (minimum wage) has increased steadily in the past 8 years, so no, those lower end folks weren't making 10k a month, 10 yrs ago.  300 baht a day X 22 days = 6600 baht.

 

I'd say minimum wage as increased 3-4 times since I've been here, as remember giving my workers 150 baht a day, and was the going rate in 2000/2001 out in the village,  Now it's 400-500 baht a day, for help around the house, as the wife pay by the hour.  Even though minimum is less, she can't find anyone for less than 400 a day.   And far from a physical or mental stress day, tinkering around the house & garden.

 

2013, workers got a big boost of 39+% increase in minimum wage. held for a few year, then started increasing again.

 

 

 

Edited May 25 by KhunLA

[NorthernRyland]

14 hours ago, Robert Paulson said:

If you eat Thai food the costs are the same now as they were a decade ago.

Clearly you either never were in Thailand before 2020 or haven't ever bought Thai food in Thailand.

[NorthernRyland]

1 hour ago, Robert Paulson said:

im not saying everyone gets paid in dollars but you people need to do some math

When discussing inflation we're referencing nominal baht amounts.

[EVENKEEL]

Single beers went from 42 to 49 bht. Case closed.