Thai inflation rate revised downwards to 2.21 percent for the entire year

[webfact]

Inflation rate revised downwards to 2.21 percent for the entire year

BANGKOK, 1 September 2014 (NNT) - The Commerce Ministry has maintained that the inflation rate for 2014 would stand at 2.21 percent, down from its earlier prediction of 2.35 percent.

Commerce Ministry advisor Amphawan Phichalai stated that the Consumer Price Index (CPI) in August 2014 reached 107.61 points, which is 2.09 percent higher on-year, but 0.08 percent lower than July's of this year.

According to Ms. Amphawan, the rise can be attributed to higher costs of processed food, poultry, meat, and other food ingredients.

Nonetheless, the Commerce Ministry remains confident that Thailand’s inflation rate would decline overall as a result of the National Council for Peace and Order (NCPO)’s policy in making adjustments to Thailand’s energy infrastructure.

The FT charge on electricity bills has also been capped at 0.69 satang per unit and food prices across many department stores have been pegged for 6 months from May-November of this year to help residents cope with the rising costs of living.


-- NNT 2014-09-01

[chainarong]

Whilst you have everything pegged you are indirectly creating a false dawn, inflation should be measured in a free market place , virtually Thailand is lying when it give out it's inflation rate or any marketplace commodity driven by prices, when pegged, the question is , what happens when the Administration has to go back to supply and demand prices and how many will survive in business relying on fuel prices with steep price hikes back to the real price, after the pegging is lifted.

[rethaier]

By looking at the way my living expenses increase I know inflation at the consumer level is way higher than 2.9%.

[rickirs]

The battle of the experts - who will be right?

- The University of Thai Chamber of Commerce Center for Economic and Business Forecasting has lowered its projection for Thailand’s economic growth this year to between 1.5 and 2 per cent from 2 – 2.5 per cent.

- National Council for Peace and Order (NCPO) chairman Gen Prayuth Chan-ocha announced to stimulate economy from the grass root with growth target this year of 2% or higher.

- Joint Standing Committee on Commerce, Industry and Banking remains confident that the Thai economy will grow 4.2 percent and expand by 2 percent for the remainder of this year.

- Bank of Thailand projected that growth rate for this year might register 1.5 percent but there was a possibility that the rate would increase to 2 percent.

- Thailand's economic growth this year looks set to level off at around 1.50-2.0 per cent according to Thanong Khanthong, of "The Nation."

Where does the truth lie or are there lies about the truth?

[taff33]

I suppose that when you have plenty of money in the bank or in your pocket you don't take much notice of the cost of living,when you haven't that's when every satang counts,I guess that the people who came up with these figures have plenty in their pockets.

[worgeordie]

Inflation for the basics of living must have gone up by 10% i would have thought,

i am always spending more money just to buy the same stuff,you have statistics,

and dam lies, its best never to believe what a Govt. dept says,but we know, we live

in the real world.right

regards worgeordie

[sgtsabai]

Little inflation my hind end! Those so-called experts need to go shopping. In fact a few minutes with my wife might educate them as to the error of their ways. The rate of inflation has been going up, up, up for years. Many prices have doubled, trippled.