Thailand'S Inflation Rate

[NomadicDave]

Inflation is the US has been very low over the last few years overall but there have been exceptions with the price of fuel probably the first that registers. But, what about Thailand and the ASEAN countries? What's the projections for the next few years?

I have read here on TV about the increasing cost of building a home but what other staples have risen in price?

[Mosha]

Wife is always saying, after a visit to the market. How the money isn't buying as much. Food prices went up a lot when diesel was allowed over 30 baht earlier this year. Eggs are about the only thing I noticed came back down significantly. That though could be the egg size.

[slapout]

The PM told us a few weeks ago that prices had not gone up too much, street noodles were the same as last year, staples were the same or less, etc

Not sure how she will account for the smaller bowl that noodles are served in, the tax increases which have gone into effect and those proposed, and a few other little hicups. She does seem to have a new reply, "I am not aware of that, who/what are you referring to?".

Guess she is covered up in local as well as international travel plans, photo ops, etc.

[chiang mai]

Some numbers and history below, 2.5 to 4.25 over last two years (so they say!):

http://www.tradingeconomics.com/thailand/inflation-cpi

But inflation is different things to different people, the above rate probably applies to rural Thai's whereas inflation for farangs is likely to be in excess of 10 per cent, based on location and lifestyle.

[Mosha]

I forgot the water. The 5 litre bottles went up 20%, to cover a rise the guys who ride on the truck got.

[BEENTHEREDONETHAT]

It is not always a price increase, they frequently reduce the amount in the package. They can reduce the contents by 10% and keep the same package size and price. Most people don't notice. So that does not count as inflation.

[BEENTHEREDONETHAT]

whoops double post

One thing they do is reduce the contents in a package, keeping the package the same size and price. Most people don't notice and it does not count as inflation.

Edited August 23, 2012 by BEENTHEREDONETHAT

[topt]

Does anybody have a link (or knows) to what Thailand actually includes in its "basket" to measure inflation?

In the UK there are two numbers CPI and RPI with a big difference between them because of what is or is not included in the items measured.

[notmyself]

10 years ago I got 3 large Changs for 100 Baht but now I get 2 1/2 but for the last 3 years my rent has gone down.

[lovelomsak]

I was talking to the gf the other day about price increases. We both agreed that many things have doubled in the last 10 to 15 years. Noodles were 15 baht standard price now 30 baht. Eggs 5 for 10 baht before ,now 3 eggs 10 baht.pork 70 baht a kilo ago now 130 baht, gasoline was 18 baht now over 30, the list went on. Land has tripled or more. The sad part is labour is still 150 baht a day.

[chiang mai]

Does anybody have a link (or knows) to what Thailand actually includes in its "basket" to measure inflation?

In the UK there are two numbers CPI and RPI with a big difference between them because of what is or is not included in the items measured.

It's all in here somewhere:

http://www.bot.or.th/English/MonetaryPolicy/Inflation/Pages/index.aspx

[tinfoilhat]

Does anybody have a link (or knows) to what Thailand actually includes in its "basket" to measure inflation?

In the UK there are two numbers CPI and RPI with a big difference between them because of what is or is not included in the items measured.

i believe the blether offered up his basket for you to rummage around in.

It would be interesting to see an actual historical comparison of a set number of items, say between Jan1997 and today. (exactly as long as ive been here)

[topt]

Does anybody have a link (or knows) to what Thailand actually includes in its "basket" to measure inflation?

In the UK there are two numbers CPI and RPI with a big difference between them because of what is or is not included in the items measured.

It's all in here somewhere:

http://www.bot.or.th...ages/index.aspx

Thanks - I will have a gander at that later.

[topt]

Does anybody have a link (or knows) to what Thailand actually includes in its "basket" to measure inflation?

In the UK there are two numbers CPI and RPI with a big difference between them because of what is or is not included in the items measured.

i believe the blether offered up his basket for you to rummage around in.

It would be interesting to see an actual historical comparison of a set number of items, say between Jan1997 and today. (exactly as long as ive been here)

yes I did actually make a tiny contribution to that thread but I was actually interested in how they calculate the official figures that they spout - and chiang mai appears to have answered that. But I agree with you a specific item comparison could be very interesting/revealing.

[chiang mai]

Does anybody have a link (or knows) to what Thailand actually includes in its "basket" to measure inflation?

In the UK there are two numbers CPI and RPI with a big difference between them because of what is or is not included in the items measured.

It's all in here somewhere:

http://www.bot.or.th...ages/index.aspx

Thanks - I will have a gander at that later.

No, do it now and we want a full report by lunch time including a summary of what you've read plus a forecast for the comming year.

[trainman34014]

We've got all our Supermarket receipts for the last three years plus. We buy the same staple foods every month and in those three years our bills have risen by 15%....I mean we are now paying 15% more for the same items we were buying three years ago. This is not allowing for the smaller packages that are regularly replacing larger ones these days, even though the price keeps rising.

I've never believed any Government inflation figures in any country I've lived. Governments cook the books to suit their own agenda in the same way they manipulate everything else. Keeping your own 'good books' will give you the true picture year on year.

[topt]

Does anybody have a link (or knows) to what Thailand actually includes in its "basket" to measure inflation?

In the UK there are two numbers CPI and RPI with a big difference between them because of what is or is not included in the items measured.

It's all in here somewhere:

http://www.bot.or.th...ages/index.aspx

Thanks - I will have a gander at that later.

No, do it now and we want a full report by lunch time including a summary of what you've read plus a forecast for the comming year.

At least you did not say which lunch time......

[Berkshire]

These are the latest rates over the last couple of years:

http://www.tradingeconomics.com/thailand/inflation-cpi

Compare that to the runaway inflation here:

http://www.tradingeconomics.com/vietnam/inflation-cpi

You can go back further for both countries, but even compared to the developed economies, Thailand is doing ok. For an expat from the EU or the USA, your purchasing power has decreased much more due to the strong baht more than anything else.

[swissie]

About 2 weeks ago this topic was in all the major newspapers. In Thailand the inflation rate is expected to be around 4.5% for the next "few years". If "the next few years" should last 10 years, I suppose that anyone living on a fixed income/pension will have 45% less disposable income here.

The future looks bright. Cheers.

[meatballs]

What is causing all this inflation?

[chiang mai]

What is causing all this inflation?

Increased production costs (salaries) and raw material (commodities, oil in particular) costs mainly. Also, BOT is keeping its powder dry in light of the global economic slump hence it's unwilling to raise the bank rate (to calm inflation) at the risk of denting economic growth at home.

[Mosha]

What is causing all this inflation?

Those nasty bosses are making us pay for the 300 Baht/day. even when it's not applied in their province.

[NomadicDave]

Some numbers and history below, 2.5 to 4.25 over last two years (so they say!):

http://www.tradingec...d/inflation-cpi

But inflation is different things to different people, the above rate probably applies to rural Thai's whereas inflation for farangs is likely to be in excess of 10 per cent, based on location and lifestyle.

If this is true then it is rather alarming, I mean, 10% is very high especially in light of rather low rates in most of the developed world.

[farang000999]

What is causing all this inflation?

artificially low interest rates.

[Naam]

Some numbers and history below, 2.5 to 4.25 over last two years (so they say!):

http://www.tradingec...d/inflation-cpi

But inflation is different things to different people, the above rate probably applies to rural Thai's whereas inflation for farangs is likely to be in excess of 10 per cent, based on location and lifestyle.

If this is true then it is rather alarming, I mean, 10% is very high especially in light of rather low rates in most of the developed world.

10% applies to certain items only. a bunch of other items are the same or have become less expensive. i also fail to see why inflation for Farangs should be higher than those of rural Thais.

[Naam]

What is causing all this inflation?

artificially low interest rates.

correct! easy money is used to speculate with food stuff which has, due to other circumstances, risen in price considerably.

[chiang mai]

What is causing all this inflation?

artificially low interest rates.

correct! easy money is used to speculate with food stuff which has, due to other circumstances, risen in price considerably.

I disagree, what you describe is cause and effect, the effect is speculation with food stuffs but the cause was lower interest rates and cheaper money. The question was, what is causing all the inflation thus your answer doesn't address the cause. On balance I favour the increased input (commodity) and labour costs answer but am always happy to learn.

[Naam]

What is causing all this inflation?

artificially low interest rates.

correct! easy money is used to speculate with food stuff which has, due to other circumstances, risen in price considerably.

I disagree, what you describe is cause and effect, the effect is speculation with food stuffs but the cause was lower interest rates and cheaper money. The question was, what is causing all the inflation thus your answer doesn't address the cause. On balance I favour the increased input (commodity) and labour costs answer but am always happy to learn.

that's what i said with my limited knowledge of the foreign language English. now i'm waiting for you to mention another cause even though you just claimed it was "lower interest and cheaper money"

what part of "easy money is used to speculate with food stuff..." is it you don't understand?

[chiang mai]

that's what i said with my limited knowledge of the foreign language English. now i'm waiting for you to mention another cause even though you just claimed it was "lower interest and cheaper money"

what part of "easy money is used to speculate with food stuff..." is it you don't understand?

Ok, for the third and final time, I think the cause of inflation here is higher production and labour costs, as stated in my prior two posts! You are the one who claims the cause is speculation which I don't see as being a primary cause, merely an effect.

[Naam]

that's what i said with my limited knowledge of the foreign language English. now i'm waiting for you to mention another cause even though you just claimed it was "lower interest and cheaper money"

what part of "easy money is used to speculate with food stuff..." is it you don't understand?

Ok, for the third and final time, I think the cause of inflation here is higher production and labour costs, as stated in my prior two posts! You are the one who claims the cause is speculation which I don't see as being a primary cause, merely an effect.

reading glasses broken? speculation is one of the reason. my sentence continues:

...food stuff which has, due to other circumstances, risen in price considerably.

now what part of "other circumstances" is it you don't understand?