Idea Of Prices Rising A Misconception: PM Yingluck

[bhakta]

Yingluck: Product prices on downward trend

BANGKOK, 5 May 2012 (NNT) - Prime Minister Yingluck Shinawatra has asked the public to remain confident in the government’s effort to bring prices of consumer goods down thanks to signs that prices at upstream areas are on a downward trend.

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Meanwhile, Commerce Minister Boonsong Teriyapirom also confirmed that the Commerce Ministry did carry out inspection of markets. The survey has shown that fresh food prices are declining.

The Commerce Ministry has targeted the inflation rate at 3.8 percent this year.

-- NNT 2012-05-05

Would the good man care to tell us which markets have lowered their prices for which products?

Maybe he has a point though, I went to the market today and some seasonal fruits were indeed a lot cheaper than 6 months ago.

I shop mostly at MAKRO and my weekly food bill has gone up so much it is surreal. I cannot comprehend where MS.Yingluck and her Red Shirts live. For most products that are supposedly made in Thailand, like shirts, tennis shoes, golf balls, and a myriad of other Thai made products, I purchased them on line in the USA for a fraction of the prices here, and have anyone coming this way carry them to me. Shoes that at 3000 Baht here, I am buying for 900 Baht, or shirts that at 1500 Baht, at 250-300 Baht equivalent in the USA.

My personal feeling is there is very very little competition here, as most important industries are under the control of a few Thia-Chinese families and thus competition is at a minimum.

[bhakta]

Living in the lazy capitalist world. If you don't like the prices, then grow your own food.

Actually this is His Majesty's recommendation also. We are growing all our own rice, and some of our own fruits and vegetables on our small farm in Yasothon. There is truly no better flavor than that of the food grown without chemicals or pesticides and allowed to ripen on the vine or on the trees.

[whybother]

I was recently in Yasothon for a few weeks. I met a young woman who's family owns a wholesale/retail shop selling all kinds of household products. She told me that everything she sell has become more costly after the implementation of the 300 Baht wage minimum. She said everything she sells is made in factories in the Bangkok area, so all these places raised their prices at once, whereas in Yasothon, the wages have not been raised, hence the highest costs are a doubly painful for these folks. Madam Yingluck simply sounds as though she really is out of touch with reaity.

Wages were supposed to go up by 39.5% in all other provinces.

[Baloo22]

How does that old saying go:

Who are you going to believe? Me, or your lying eyes?

[bhakta]

I was recently in Yasothon for a few weeks. I met a young woman who's family owns a wholesale/retail shop selling all kinds of household products. She told me that everything she sell has become more costly after the implementation of the 300 Baht wage minimum. She said everything she sells is made in factories in the Bangkok area, so all these places raised their prices at once, whereas in Yasothon, the wages have not been raised, hence the highest costs are a doubly painful for these folks. Madam Yingluck simply sounds as though she really is out of touch with reaity.

Wages were supposed to go up by 39.5% in all other provinces.

As far as I understand, the wages were increased only in the areas surrounding Bangkok, and were not raised in the other provinces as yet, with some exceptions?

[Lite Beer]

Thai public affirms high prices of goods are fact, not just opinion: ABAC Poll

BANGKOK, May 6 - About 90 percent of poll respondents viewed that it is a fact that consumer goods prices are higher and not unfounded opinion, according to the latest Assumption University ABAC poll released on Sunday.

The poll surveyed 2,259 people aged over 18 years old in 17 provinces regarding their satisfaction on the government's performance for the past nine months.

On a related response, the poll indicated that many officials directly involved with the government's economic policies were unknown to the general public. Deputy Finance Minister Tanusak Lekuthai and Deputy Commerce Minister Poom Sarapol were each listed in the top ten of ministers not known or acknowledged by respondents. Meanwhile, 67 percent of respondents agreed a cabinet reshuffle should take place.

Concerning the opinion of Yingluck Shinawatra as prime minister, poll respondents gave her 5.93 points out of a total of 10 for her performance over the past nine months of her administration.

Meanwhile, the premier said that prices of goods were falling but admitted energy prices were higher. She said pricing of some goods are uncontrollable, such as vegetable prices due to supply and demand, oil prices, and excessively hot weather which can easily spoil harvests.

Ms Yingluck said that prices of goods in Bangkok are different from other provinces owing to production costs, and areas that experienced flood problems tended to have higher costs of production. The premier noted officials are surveying the areas facing problems.

Ms Yingluck denied commenting on the poll's opinion which supported a cabinet reshuffle, and only asked for more time to work. (MCOT online news)

-- TNA 2012-05-06

[whybother]

As far as I understand, the wages were increased only in the areas surrounding Bangkok, and were not raised in the other provinces as yet, with some exceptions?

From another thread:

http://www.tannetwor...?DataID=1053977

Labor Minister Padernchai Sasomsap said the daily minimum wage hike will be implemented nationwide on April 1.

http://thailand.prd....ide.php?id=6223

The resolution was made by the Cabinet in November 2011, following the decision by the Wage Committee on 17 October 2011. Based on this policy, starting from 1 April 2012, the 300-baht daily minimum wage has been implemented in seven provinces.

... In the remaining 70 provinces, the daily minimum wage has increased by 39.5 percent, but is still lower than 300 baht. The 300-baht rate will become effective in the other 70 provinces on 1 January 2013.

[volk666]

Minimum wage went up by 40% for the entire country but only in Bangkok and surrounding provinces it reached the promised 300 baht hence the confusion and inconsistencies in the reports - by wage rise most people mean the 300 baht level.

There are also 24 million unregistered workers whose wages are not governed by the laws but by the whims of their employers. Maybe they got payraises maybe they didn't, no one knows, certainly not Yingluck.

[animatic]

It's a surprise this government has a leg to stand on,

since they keep running out of places to shoot themselves in the foot.

[mic6ard]

I think that this gov't is truely in trouble, but the opposition doesn't have enough seats to control or vetoed anything. Plus would you want to be the one cleaning up this mess?

Posted with Thaivisa App http://apps.thaivisa.com

[TomTao]

It's a surprise this government has a leg to stand on,

since they keep running out of places to shoot themselves in the foot.

They're walking on thier hands, because both feet are stuck firmly in thier mouth.

[bhakta]

It is true there are millions of workers who are not registered. I find pretty much everywhere I go there are workers from other SE Asian countries and they do not speak Thai, but they are working.

[farang000999]

Pretty hilarious. A thread full of Westerners upset with the Thai government about higher prices. If only Yingluck could get some advice from the EU Central Banks and Ben Bernanke on monetary policy.

[Buchholz]

Prime Minister Yingluck Shinawatra has pointed out that the soaring goods price at present

Yesterday she was telling us that rising prices was a misperception. Now she's saying they're soaring.

It's a volatile economy I tell ya.

It can turn on a dime in an afternoon.

.

[Buchholz]

I was recently in Yasothon for a few weeks. I met a young woman who's family owns a wholesale/retail shop selling all kinds of household products. She told me that everything she sell has become more costly after the implementation of the 300 Baht wage minimum. She said everything she sells is made in factories in the Bangkok area, so all these places raised their prices at once, whereas in Yasothon, the wages have not been raised, hence the highest costs are a doubly painful for these folks. Madam Yingluck simply sounds as though she really is out of touch with reality.

The young woman is correct in her assessment and her experiences are mirrored by many.

You are correct in your assessment, as well.

.

[volk666]

Pretty hilarious. A thread full of Westerners upset with the Thai government about higher prices. If only Yingluck could get some advice from the EU Central Banks and Ben Bernanke on monetary policy.

Most people here rely on common sense and what Thai economists have been telling the government all along.

It is the hallmark of all pro-Thaksin governments not to listen to economists or academics in general. Ten years ago they had Somkid and Pridiyatorn to run the economy but in 2008 they appointed a husband of a woman running a spa business as a Finance Ministry and he, reportedly, had to go to Wikipedia to learn what VAT is.

Current economic tzar is not a stupid man but he never listens to anyone and never wins any arguments on merits, only on electoral power. So far he runs on a borrowed time but it's only a few months before huge losses he ran up with his policies can be calculated and presented to him on the silver platter.

If anything, his playbook consists of the pages torn out of Bernarke's and EU's collection of failed ideas.

[Skywalker69]

It's a surprise this government has a leg to stand on,

since they keep running out of places to shoot themselves in the foot.

They must run out of ammo, soon.

[Skywalker69]

It's a surprise this government has a leg to stand on,

since they keep running out of places to shoot themselves in the foot.

They're walking on thier hands, because both feet are stuck firmly in thier mouth.

And their heads are stuck up their a_holes.

[farang000999]

volk, i agree entirely. but the point is that higher prices are largely the result of external forces. inflation is rampant in china and other developing nations. if you really want lower prices, hope that we get a change in Western policy.

[rubl]

^ #199

May I be so bold as to point out the remark of our dear PM, the ever smiling Ms. Yingluck:

"Idea of Prices rising a misconception"

[rubl]

Prices rising? Wages rising? Why be bothered?

Thailand Live Sunday 6 May #32

"Confidence rebounds to pre-flood level

...

Similar to what was seen in the previous quarter, 6 out of 10 Thais claimed to put their spare cash into savings; while 3 out of 10 said they would spend the rest of their money on holidays or use it to pay off debts and loans. Around 6 per cent of consumers claimed not to have any spare cash left which was similar to a 2011 average of 7 percent."

http://www.thaivisa....25#entry5278204

[jonclark]

volk, i agree entirely. but the point is that higher prices are largely the result of external forces. inflation is rampant in china and other developing nations. if you really want lower prices, hope that we get a change in Western policy.

Gonna disagree with you - Just returned from a two week holiday in the UK - food prices were high (but better quality) however cloths / textile prices (of brand names) were a lot cheaper than here. 400 baht for original Addidas t-shirts. Speaking to friends in the pub about the UK economy, all of them grumbled but most of them admitted that previous governments over spent and invested unwisely and now it was time to pay the piper.

[jackr]

Clearly a person with no concept of what it is to get by with 'real', earned money. Does she even carry any? Wonder if she's getting up the noses of her reds yet?... oh well, tough titties.

[siampolee]

I note that there a proposal to increase the fares on the ''Skytrain'' according to a newsflash yesterday received from ''The Nation.'' This proposed increase is within the region of 14%. This is in tandem with the approved increase in public transport fares due to be implemented on the 15th of this month.

The hardest hit by these increases are the folk at the lower end of the wage scale and if the proposed VAT increase comes in if you're at the lower end of the wage scale you wont be living you're going to be existing at survival level.

.

Yet again there are according to this maladministration no increasing prices.

Now can they explain why there should be an increase of 14% on fares on the Skytrain, surely if ''everything in the garden smells of roses'' there should be no increase in fares or VAT either ?

Ah well, no doubt someone has to fund the tax cuts for the fat cats and repay the accounts rendered to the P.T. by its paymaster for enabling the P.T. to ruin run this country.

Edited May 7, 2012 by siampolee

[sparebox2]

Something are more expensive (like veg).

Something are cheaper (like cooking oil).

[FOODLOVER]

Something are more expensive (like veg).

Something are cheaper (like cooking oil).

Something stayed the same (like haircuts).

[whybother]

Transport Ministry to propose Bt2-4 hike of MRT fare for Cabinet's approval tomorrow /TANN

It's your imagination everybody. It's not real.

Of course, I expect the cabinet to reject this proposal.

[GentlemanJim]

We can all argue over the individual price deals you can get on a bag of rice, a bag of fruit or veg or whatever. The undeniable fact is, that for anyone who lives here, prices have been steadily rising in terms of the costs of living. Everyone is putting prices up. The small but steady increases of a baht here and a baht there on produce seem to be going relatively unnoticed but when as a result other services are suddenly hiked up significantly then the situation becomes clear. I don't notice in the supermarket an increase of 2 baht on a bag of rice but I do notice when all the kindergartens in town put the prices up by 18% last week, restaurants, hotels, electricity, fuel, beer all up. So whether a cabbage, eggs or limes can be bought up North for 2 baht cheaper than down South is, on the grand scheme of things irrelevant. The cost of living is rising significantly and we are all talking of rice and cabbage. People are supposed to be able to live not survive. I thought the Government were supposed to bring in a lower flat rate on the skytrain, it now transpires that prices are going to be hiked and that is before the likely VAT rises as well. Something is going to break badly soon, whether that is the iron will of the people or the egg fragile economy we wait and see, but it won't be pretty.

[hellodolly]

Something are more expensive (like veg).

Something are cheaper (like cooking oil).

Ah a true statement.

But in the end at the check out counter when you have purchased all your needs the cost is higher.

Are you going to live on cooking oil. Then defiantly cheaper than living on vegetables, pork, chicken, fish, fruit or dairy products.

Edited May 7, 2012 by hellodolly

[sparebox2]

We can all argue over the individual price deals you can get on a bag of rice, a bag of fruit or veg or whatever. The undeniable fact is, that for anyone who lives here, prices have been steadily rising in terms of the costs of living. Everyone is putting prices up. The small but steady increases of a baht here and a baht there on produce seem to be going relatively unnoticed but when as a result other services are suddenly hiked up significantly then the situation becomes clear. I don't notice in the supermarket an increase of 2 baht on a bag of rice but I do notice when all the kindergartens in town put the prices up by 18% last week, restaurants, hotels, electricity, fuel, beer all up. So whether a cabbage, eggs or limes can be bought up North for 2 baht cheaper than down South is, on the grand scheme of things irrelevant. The cost of living is rising significantly and we are all talking of rice and cabbage. People are supposed to be able to live not survive. I thought the Government were supposed to bring in a lower flat rate on the skytrain, it now transpires that prices are going to be hiked and that is before the likely VAT rises as well. Something is going to break badly soon, whether that is the iron will of the people or the egg fragile economy we wait and see, but it won't be pretty.

Maybe Thailand is the only country being penalize for raising cost of living.

Perhaps cost of living in America, Europe, Japan, etc always move in opposite direction?