Thailand's January inflation rate highest in 6 months

[webfact]

January inflation rate highest in 6 months

BANGKOK, 4 Feb 2014, (NNT) - January's inflation rate is the highest in six months, thanks to consumer spending during the Chinese New Year.

According to Deputy Permanent Secretary of Commerce Urawee Ngowroongrueng, last month's General Consumer Price Index (CPI) on inflation rose to 106.46 points, 0.42% higher than that of December 2013 and a jump of 1.93% year-on-year; the highest in six month since last August's 1.59%.

The increase was attributed to food and non-alcoholic beverages price indexes, which increased by 0.67%, along with the rising prices of poultry, seafood, pork, fruit and eggs during the the Chinese New Year.

The General CPI of food and non-alcoholic beverages last month increased 0.30% on the back of price hikes in fuel, electricity, cigarettes and liquors, she said.

She further said that this year's inflation rate would be between 2-2.8% ,assuming that the annual GDP was at 3-5%, Dubai crude oil price was between 95-115 U.S. dollars a barrel, the baht was traded in the range of 29-34 baht against the greenback, and the government maintained its current policies on reducing the living expenses.

Miss Urawee also said that 202 out of 450 commodity products had their prices increased, whereas 58 items had their prices decreased and the prices of the rest of the items remained unchanged. She was also confident that the slowdown of the inflation rate would not lead to deflation.


-- NNT 2014-02-04

[trogers]

What terms do economists use when inflation rises and economic growth falls at the same time?

[Pib]

While a 1.9% overall year-over-year rate don't sound bad, take a look at some of the increases in core individual commodities such as meats (+11.2%) and Fish/Aquatic Animals (+7.2%), Raw Food (+4.7%). Here's a Bank of Thailand Link showing the Jan 14 inflation statistics...the far right column shows Jan 13 to Jan 14 changes.

[Costas2008]

trogers, on 04 Feb 2014 - 11:45, said:

What terms do economists use when inflation rises and economic growth falls at the same time?

Economic depression.

[trogers]

trogers, on 04 Feb 2014 - 11:45, said:

What terms do economists use when inflation rises and economic growth falls at the same time?

Economic depression.

Price deflation follows a Depression, not inflation.

[MilesofSmiles]

What terms do economists use when inflation rises and economic growth falls at the same time?

stagflation

[expat888]

What terms do economists use when inflation rises and economic growth falls at the same time?

It's Thai economics. If the Thais are losing money they increase prices. Lose of money, rice, protest, etc.

The problem is you are intelligent and understand the true reasons for inflation. That's why you are confused.

[Suradit69]

What terms do economists use when inflation rises and economic growth falls at the same time?

It's Thai economics. If the Thais are losing money they increase prices. Lose of money, rice, protest, etc.

The problem is you are intelligent and understand the true reasons for inflation. That's why you are confused.

"Lose of money, rice, protest, etc."

Say what??

And yet more economic wisdom from Thai Visa experts who still don't quite fathom why the fecal matter hit the fan a few years ago. Yes, the Farang Fantasy Factory where the economies are still struggling to crawl out of extraordinary levels of unemployment, trillions of dollars in debt used to prop up failing banks, record real estate foreclosures and a flurry of quantitative easing, which is a misleading term for 24/7 fiat currency printing.

Yes, if only Thais could run their economy like the really smart people in the west. If farang economic experts are losing money, they lower prices, fire employees, close factories and claim their profits are up because they've cut production and halved the payroll.

The problem is you are intelligent and understand the true reasons for inflation.

This pretty well sums up superior western economic intelligence:

Edited February 4, 2014 by Suradit69

[expat888]

What terms do economists use when inflation rises and economic growth falls at the same time?

It's Thai economics. If the Thais are losing money they increase prices. Lose of money, rice, protest, etc.

The problem is you are intelligent and understand the true reasons for inflation. That's why you are confused.

And yet more economic wisdom from Thai Visa experts who still don't quite fathom why the fecal matter hit the fan a few years ago. Yes, the Farang Fantasy Factory where the economies are still struggling to crawl out of extraordinary levels of unemployment, trillions of dollars in debt used to prop up failing banks, record real estate foreclosures and a flurry of quantitative easing, which is a misleading term for 24/7 fiat currency printing.

Yes, if only Thais could run their economy like the really smart people in the west. If farang economic experts are losing money, they lower prices, fire employees, close factories and claim their profits are up because they've cut production and halved the payroll.

The problem is you are intelligent and understand the true reasons for inflation.

This pretty well sums up superior western economic intelligence:

We cannot control what our leaders do yet we can understand basic economics. You apparently, need to do some research.

The reason the US is in a side is because Obama has forsaken what has made the US great to begin with. He is going down the same path as Yingluck. (or vice versa)

Edited February 4, 2014 by expat888

[ripstanley]

Went to a local market up country today. There were oranges or manderins. Wife asked what the price was. Answer 80 baht a kilo. My answer forget it and keep walking. I think this is called farang inflation. Another market we attend where beter quauality fruit is sold price is 50 baht

[ableguy]

Went to a local market up country today. There were oranges or manderins. Wife asked what the price was. Answer 80 baht a kilo. My answer forget it and keep walking. I think this is called farang inflation. Another market we attend where beter quauality fruit is sold price is 50 baht

I get this all the time, traders asked my gf why she does not want to help Thais when they jack up the price for farangs , now she shops alone.

Is this Thai bashing armchair pundits ????

[Thai at Heart]

What terms do economists use when inflation rises and economic growth falls at the same time?

Feasible when price rises are caused by tax rises.

Price went up consumption fell.

[VegasVic]

What terms do economists use when inflation rises and economic growth falls at the same time?

stagflation

We have a winner! Although 1.93% YOY is hardly inflation, and much of the recent inflation can be attributed to suthep and his band of loons creating kaos in the streets of Bangkok and causing travelers to cancel their vacations to Thailand