MR Pridiyahorn: Thailand not in period of deflation

[webfact]

MR Pridiyahorn: Thailand not in period of deflation

BANGKOK, 6 May 2015 (NNT) - Deputy Prime Minister MR Pridiyathorn Devakula has affirmed that the country has not entered a period of deflation.

The Deputy PM revealed that he has closely monitored the negative inflation rate, along with officials from the Ministry of Finance, the Bank of Thailand and the Office of the National Economic and Social Development Board.

He blamed the negative figure on the fall in global oil prices, which has also affected the value of precious metals. The Deputy PM also attributed baht's appreciation to the global economic slowdown, coupled with a drop in the prices of agricultural products.

However, MR Pridiyathorn did not conclude that the country has officially entered a period of deflation. He claimed that the deflation would have to continue for another 5-6 months in order to establish a trend.

The Deputy PM was also unconcerned about the rise in household debt to 87 percent of the country’s gross domestic product, as the proportion of non-performing loans has not risen.

-- NNT 2015-05-06

[Prbkk]

Despite the strong Baht/Euro, the price of my chocolate bar as increased from 104 to 118 in the past 9 months ( and ALL supermarkets have the same price). Inflation , profiteering and price fixing.

Edited May 6, 2015 by Prbkk

[Snig27]

Given this man's established history of fiscal incompetence and mis-forecasts over and over in the past year, I'd take anything he says with a massive dose of not-credible.

Edited May 6, 2015 by Snig27

[Suffinator]

One word ... denial.

They have never been able to face the truth or worse admit the country has a problem; that Thainess of saving face is and always will be their priority and yet their stupidity continues to make them lose face.

[trogers]

Having seen sliced pork being sold at the supermarket at 400/kg, there is definitely only inflation, not deflation.

[attrayant]

Whew. "Thailand not in deflation" certainly sounds a lot better than "Thailand not in a recession".

[SOUTHERNSTAR]

Having seen sliced pork being sold at the supermarket at 400/kg, there is definitely only inflation, not deflation.

Where do you buy your pork ? I buy pork fillet (the most expensive cut) for B 150/kg. You are paying more for your local pork than what I am paying for imported rib eye steak (B 305/KG), you are getting ripped off or like to buy overpriced food at expensive supermarkets.

[trogers]

Having seen sliced pork being sold at the supermarket at 400/kg, there is definitely only inflation, not deflation.

Where do you buy your pork ? I buy pork fillet (the most expensive cut) for B 150/kg. You are paying more for your local pork than what I am paying for imported rib eye steak (B 305/KG), you are getting ripped off or like to buy overpriced food at expensive supermarkets.

Max Value supermarket at Pridi 12. These are thinly sliced pork.

[trogers]

Having seen sliced pork being sold at the supermarket at 400/kg, there is definitely only inflation, not deflation.

Where do you buy your pork ? I buy pork fillet (the most expensive cut) for B 150/kg. You are paying more for your local pork than what I am paying for imported rib eye steak (B 305/KG), you are getting ripped off or like to buy overpriced food at expensive supermarkets.

Come again on that ribeye... Big C Ekamai

[blazes]

Of course there is no deflation in LoS. When your hotel is only 40% occupied, you raise the rates so that those 40% of poor schmucks staying at your hotel will pay for the missing 60%.

Simple.

[Balance]

He must be responding to the report from one of the ministries or banks that the country has had four months in the minus column. But, there seems to be a disconnect between the technical "deflation" numbers and what people on the street are feeling. But what the hell, all is well and no one should worry.

[Wilsonandson]

Well don't you go worrying yourselves cause in a little over a week Thailand will be in fits of elation as the horrid little blighters go back to school and leave poor mum and dad alone. Horray!

[Srikcir]

"Household debts have increased to an average of 219,000 baht per household this year [2014] which are the highest level in nine years with 49 percent of the debts being unorganized debts, according to a study conducted by the University of Thai Chamber of Commerce."

Kenan Institute Asia chairman Piyabutr Cholvijarn expressed concern that the ratio of household debt to gross domestic product could reach 100 per cent in the next few years.

Gen. Prayut's solution: "Please refrain from racking up debts"

[cookee68]

Blimey the pork from our local butchers in the UK is cheaper than that

[tphut]

who is else going to pay? do you really think the landlord, the electric company, internet company, tv company and so on are lowering there price becorce there are fewer customers

no right? ofcorce the customers will have to pay, no one runs a business for you we run business for us so we can live to.

Wake up my friend, this is how the world works, even you lousy payroll every month is measured by this

many workers available low salary, few worker available high salary

Of course there is no deflation in LoS. When your hotel is only 40% occupied, you raise the rates so that those 40% of poor schmucks staying at your hotel will pay for the missing 60%.

Simple.

Edited May 6, 2015 by tphut

[Farang99]

First law of politics - not just in Thailand:

IF YOU SAY SOMETHING OFTEN ENOUGH AND LOUD ENOUGH PEOPLE WILL START TO BELIEVE IT