Thailand's 2012 Inflation 3.02%

[webfact]

Thailand’s 2012 inflation 3.02%

By Digital Media

BANGKOK, Jan 2 – Inflation in Thailand was 3.02 per cent last year, higher than the core inflation rate of 2.09 per cent, a senior Commerce Ministry official said today.

Vatchari Vimooktayon, permanent secretary for commerce, said December’s inflation was 3.63 per cent and this year’s inflation is forecast within the range of 2.8-3.4 per cent on the assumption that the Dubai crude oil rate is US$100-120 per barrel at an exchange rate of Bt28.5-32.5 per US dollar, the cost of living reduction measures remain in force, and the LPG price does not increase.

However, the risk factor of the impact of weather situation towards agricultural produce needs to be closely monitored, she said.

Ms Vatchari said the increase of daily minimum wage to Bt300 in seven provinces prior to the Jan 1 nationwide enforcement has contributed to an earlier price adjustment of commodities and consumer products.

Now that the minimum wage is implemented throughout the country, it is believed that the prices of commodities and consumer products will not be much higher, she said.

She added that the higher minimum wage will impact the inflation at only 0.1 per cent and the Commerce Ministry is capable of controlling inflation within the targeted range. (MCOT online news)

-- TNA 2013-01-02

[swissie]

This is an insult to everyone that lives in Thailand. My Thai-Neighbors and myself have agreed that even basic-foods have increased by at least 15 % last year.

And by any measure, be it Keynesian or Morton Freemann, any abrupt wage increase of 50% or more without an increase of productivity will (and must) lead to a dramatic increase of inflation.

Have you noticed an increase of productivity recently at the local Tesco or anywhre else in Thailand?

Cheers.

[slapout]

In this adminstration it does appear that 'white lies' are expected to be accepted as the truth by the Thai people. There does seem to be a real need to define 'white lie', 'bald face lie', 'fairy tale' and 'wishful thinking'.

I wonder which ministry will make a promoclation that the 300 baht per min. wage will have no effect on unemployement figure, sorry I forgot Thailand have virtually no unemployement.

[IMA_FARANG]

Winston Churchill is supposed to have said it.

There are three kinds of lies; lies, Damned lies, and statistics.

[Rancid]

All governments choose the basket of goods they measure, naturally excluding any that are unlikely to give the desired result. I somewhat doubt Thailand is any different, inflation rates are squashed to pretend there is no inflation due to SOP government poor monetary policies as they spend to buy the next election. As the previous poster suggested statistics are easily manipulated to give the desired outcome, ie BS.

[Chao Lao Beach]

If only this was true !!!! From what have seen, it appears to be massaged numbers. Anyway, not anything I can do about it, so not worth loosing sleep over.

[khunken]

Total spin. B300 min wage in 7 provinces factored in - only another 69 or so to go. It won't be immediate but inflation will go up this year. And yes, the current rate shown here bears no relation to reality.

[crazyswede]

^{Witch are those 7 provinces , anyone who knows?}

_{Sent From My 7 yo. Packard Bell who´s still kickin´.}

[meatboy]

3.02 and rising posted in g.topics electric up 4satang and more of this to come.in 6months beef we buy for our dog has gone up from

160bht.pr.kilo to 220bht up almost 40%.

[thenervoussurgeon]

And the wheels on the bus go round and around ,