Idea Of Prices Rising A Misconception: PM Yingluck

[Thai at Heart]

Aaaahhhhh. Deflation. Quantitative easing?

[meand]

I notice the prices are a lot cheaper in areas where there are less farangs. That would obviously skew some of the opinion here. Buying some fruit or a street food dish, you can see up to a 50% decrease simply going from on nut to say udom suk. Unfortunately, many Thais are "stuck" in there areas with growing farang populations.

Nonsense, this article isn't about prices in general being higher but the prices increasing.

I live in an area with absolutely mostly Thai people and the price increase is clear for everyone around me.

My point was simply that in areas with more foreigners, any "misconceptions" about rising prices could be magnified, because as more foreigners move in, prices rise as a direct result. In any event, I think these are some of the most ill advised and erroneous statements the PM has made heretofore, so i'm with you

[Skywalker69]

The ministry of commerce is saying prices are rising but Yingluck is saying they are falling.

Maybe Yingluck should talk to her ministers occasionally.

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

Maybe, Ms. Yingluck should do some shopping for essentials at the nearest BigC or Tesco rather than going to Emporium for her weekly clothes-shopping tour.

She won´ t even find her way to BigC or Lotus.

[animatic]

This government can't deny responsibility for rising fuel prices, screwing the Oil Fund was their first act upon taking the office.

Back then, when world oil price was cheap, they decided to cut contributions to Oil Fund traditionally used to stabilize local prices in the future, they put the Find in red when it was supposed to be collecting money for "rainy" months like this.

They had completely overwritten country's long standing fuel price policies and messed with fuel taxes. Some of it was subsequently rolled back but the part where they now don't have funds to keep local prices stable in times of world volatility is there to bite them on the ass.

Anyone remember the reason cited by Yingluck for dropping oil fund contributions and reducing local prices when they were cheap on the world market, too? To say thank you to her red supporters.

They got what they have voted for.

Exactly they have mo clue about long term economics.

That was glaringly proved during the PPP mis-Administration.

[animatic]

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.

In the government weekly talk show, Yingluck admitted that product prices in midstream and downstream areas were still high as operation costs had not gone down in accordance with the drop in raw material costs. However, the premier affirmed that all related agencies were working hard to keep the prices affordable.

Chairman of the Thai Chamber of Commerce Olarn Chaipravat who joined this Saturday talk show disclosed that weather and global oil prices had strong influence on the economic growth. Unfavorable weather and high oil prices may push the inflation rate up to five percent. If the two factors are favorable to the country, the inflation rate could lower to two percent.

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

So much face saving gobbledegook,

with a token fool from industry brought in to parrot the party line.

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

Is that the estimate the inflation rate will be? '

Or they are trying to control figures so this appears to be so?

Inflation is caused by costs, not about Ministry targets to be met,

to give the boss have the right things to say to the public.

[animatic]

Aaaahhhhh. Deflation. Quantitative easing?

More likel a rectalification of the numbers stream

[Scott]

What effect is the 300 baht wage increase having on prices?

[Skywalker69]

What effect is the 300 baht wage increase having on prices?

It will show in the next quarter.

Edited May 5, 2012 by Skywalker69

[Buchholz]

What effect is the 300 baht wage increase having on prices?

Wage hike impacts food cost in Thailand

Press TV - Today

[ginjag]

birdpooguava--Ha Ha the smiley that you received was spot on, your thoughts about floods and oil prices, made me laugh it was painful.  So prices are down because of the floods and high oil costs.   How much you bend to defend the ridiculous.  (unless your comments were tongue in cheek)  ??

[KireB]

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.

[rubl]

With prices of oil dropping and last Friday a barrel of American oil going to $98.21, being on the same level as about November 2011.

In my dreams I can already see prices of normal consumer goods dropping like stones in a few weeks time :-)

[looping]

When I look at the picture attached to this article its plain to see the difference between fantasy and reality ; the picture of her in the background, the image she portrays vs the real YL in the foreground, lying through her pearly whites.

[marquess]

With prices of oil dropping and last Friday a barrel of American oil going to $98.21, being on the same level as about November 2011.

In my dreams I can already see prices of normal consumer goods dropping like stones in a few weeks time :-)

Doesn't seem to matter too much if prices drop on the world market as they most certainly don't really drop at the pumps because the government have increased the tax-- moreover they seem to be psychologically conditioning the public to accept the 40 Baht per litre of 95 Gasahol and Benzene 91. So when the price goes down on the world market they just don't lower it. What can one expect from someone leading a government with no previous experience in anything apart from shopping.

[ginjag]

Agree with most posters about oil prices, the more they drop the more companies blame the price for their falling profits, Thai Airways said because the cost of fuel it's hit them hard.  I see this excuse worldwide, and we all can see that its lower. pushing transport costs onto customers is normal even when prices of oil have dropped.  Look at your air fares, from 25,000 bht-up to 40,000 bht. because of fuel ?????  Yingluck is off track, off the rails, and wants re Train-ing

[TommoPhysicist]

With prices of oil dropping and last Friday a barrel of American oil going to $98.21, being on the same level as about November 2011.

In my dreams I can already see prices of normal consumer goods dropping like stones in a few weeks time :-)

Doesn't seem to matter too much if prices drop on the world market as they most certainly don't really drop at the pumps because the government have increased the tax-- moreover they seem to be psychologically conditioning the public to accept the 40 Baht per litre of 95 Gasahol and Benzene 91. So when the price goes down on the world market they just don't lower it. What can one expect from someone leading a government with no previous experience in anything apart from shopping.

Petrol prices in the UK never go down either, I think it's a world-wide phenomenon.

[Buchholz]

interesting poll results in the other paper..

97.8% are not buying into Yingluck's crap about inflation being all in their minds.

"misconception", indeed.

[KireB]

She's forgotten the important one.

Beer. Up from 26B to 31B in the last 7 months. 19% increase.

I bought a can of Leo at the 7/11 yesterday and couldn't believe my eyes: 31 Baht!

Weren't they 20 a couple of years ago?

I'll have to ask the wife for more pocket money now, wish me (ying) luck.

[meand]

This all reminds me of some of the same problems I feel were present back home, namely a bunch of rich people talking on TV about rising health care costs, and how to solve the problem. Meanwhile, none of the people in the discussion have any problem purchasing health care, or filling up their tanks etc. It is like we are in this constant state of being compelled to listen to out of touch politicians and newscasters.

[coma]

So she is right and all the rest of the Thais in Thailand are wrong ?

[Lite Beer]

PM: Demand-supply, oil price cause goods price hike

BANGKOK, 6 May 2012 (NNT) – Prime Minister Yingluck Shinawatra has pointed out that the soaring goods price at present is due to the different demand-supply ratio and oil prices in each area of the country.

The PM said that the ministers assigned to survey product prices at different sites have so far reported many inconsistencies in the prices of many products. Ms. Yingluck explained that the rising price is a result of the different level of demand-supply and oil prices, which vary according to each area. At the same time, price volatility, especially in agricultural products, has mainly been brought about by the hot weather, which is an uncontrollable factor causing fruits and vegetables to perish faster.

Regarding the difference in product prices in the capital and outside of Bangkok, the PM reasoned that the anomaly mainly depends on the initial cost of production. Additionally, she stated that non-flooded areas are not affected by the problem of goods price hike.

However, the PM has insisted that goods prices are currently on a downward trend despite the higher energy price.

-- NNT 2012-05-06

[Skywalker69]

The PM said that the ministers assigned to survey product prices at different sites have so far reported many inconsistencies in the prices of many products.

The PM dosn´t know what she says from one day to another.

[FOODLOVER]

Ask her what anomaly means.

[Skywalker69]

Ask her what anomaly means.

She will answer, "It´s some kind of animal"

[yoshiwara]

What effect is the 300 baht wage increase having on prices?

That is an interesting question. Where the basic wage has been raised in some western countries it has been seen as affordable as a result of the hike being applied to a relatively small percentage of the workforce and therefore not really affecting the average price of labour. In Thailand this is unlikely to have been the case and therefore an impact on prices to have been expected. As for the PM's statements, well she can push out the anomaly line for only so long. Should get interesting.

[Sayonarax]

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

[whybother]

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.

[lungmi]

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.

logorrhea

[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.

[mojaco]

It's interesting that PM Yingluck Shinawatra has to rely on a personal survey of prices by a few chosen ministers. There is a perfectly good website she could look at:

http://www.price.moc...n/Default5.aspx

Morris (not the cat)

Edited May 6, 2012 by mojaco