Inflation rate in February declining year on year due to cheaper oil prices

[webfact]

Inflation rate in February declining year on year due to cheaper oil prices



BANGKOK, 2 March 2016 (NNT)-The Ministry of Commerce has revealed that the inflation rate in February dropped year on year due to declining oil prices.

According to the Ministry of Commerce, February’s inflation rate was recorded lower than last year by 0.5% to stay at 105.6. The figure has remained negative for the fourteenth consecutive month as the global oil prices continue to plunge.

Transportation fares, electricity bills and the average price of liquefied petroleum gas (LPG) have also become cheaper. However, the inflation rate increased from January to February this year by 0.15%.

It is said that the rising prices of fresh food during Chinese New Year and higher tobacco taxes have contributed to the increase, which is also a good indicator of a better economy this year. The inflation rate is also likely to register a less negative growth and become positive in the second half of 2016.

The Ministry of Commerce has also revised its projection for the inflation rate growth this year to 0-1% on the condition that the Thai economy expands 2.8-3.8%.


-- NNT 2016-03-02

[worgeordie]

Well the price of Vegetables,Rice,Meat,you know, the food that

people eat everyday are still very expensive,the price of diesel

comes down say 5 THB and the price of daily consumer goods

don't come down,diesel rises by 1 THB and everything goes up,

and I see manufactures of foodstuffs are leaning from the West,

small contents same price.

regards Worgeordie

[shirtless]

Rents up, beer up smokes up food up yeah everything is so much cheaper now, you people making this claim need your heads read,

[useronthenet]

More fantasy news.

[Srikcir]

The Ministry of Commerce has also revised its projection for the inflation rate growth this year to 0-1% on the condition that the Thai economy expands 2.8-3.8%.

BUT

The inflation rate is also likely to register a less negative growth and become positive in the second half of 2016.

Negative inflation for the first 6 months followed by 1% maximum inflation for the last 6 months will not produce a GDP growth rate of 3.8% but rather 3.3%! Given negative inflation for the last 14 months inspite of substantial government investment, it is unlikely 2016 will see an inflation rate greater than 0.5% and most likely 0%.

Why is positve inflation important? It indicates increase in market capital. Availability of market capital is critical for GDP growth. Anything less than positve inflation means GDP rate will slow or reverse.

The Minister's prediction has almost no connection with reality. But not untypical of the MOC.

[elgordo38]

Rents up, beer up smokes up food up yeah everything is so much cheaper now, you people making this claim need your heads read,

They have finally figured out how the West figures out inflation and gives us retirees the COLA finger. This is the new world order tell lies to the people blatantly don't sugar coat them anymore. They must really think we are stupid. We of course accept their lies and don't fight back. Docility at its best.

[brucefarang]

What a load of hogwash! Our food bill at Tesco is now 1800 Baht as opposed to 1400 18 months ago -same items (except proper baked beans which seem to be on the endangered list) !!!!! Negative inflation? not at your local Tesco!

[nong38]

I expect that when oil starts to go up and it did this week look for prices going up, did not notice anything coming down over the last 15 months, just pocket the bonus and hope nobody notices.

Same business training as TAT, point me at the real world.

[BuriramDevelopers]

Oh boy. Did they say economic growth in the 2nd half....

My bet will be different.

Let me remember what they said in November 2007..........just before i sold my busness in Europe....Oh yeah i remeber . And then they said in Februari , how could we know??????And everybody cried about their unforseen loses.

By August this year we will see the start of an economic down fall unseen in the last 8 years. The worst prepared countries (yes like Thailand) first of course. And highly likely even unseen in the decades before that. This is a proces that will contnue for several years, and the weakest might not survive without serious consequenses for their society.

These growth numbers are based on fantasy.

An unrealistic hope of economic recovery worldwide, (wich is still predicted i know). Would you tell people it's shit their eating when they still think it's caviar and pay you top price for it.?

Thailand not being ready for any form of downfall, will be hit severely.

Investers confidence is declining rapidly as the political struggle continues and there is clearly no economical agenda that stands out to the business community. Debt rate is rising. These 2 combined spell trouble. There is no real effect seen by economic measurements taken by the government, if they are not backed by a sound political vision, that must be a democratic one, any other one will be denied by the bussines community world wide.

This means trouble ahead,

[BSJ]

After a fun filled lunchtime everyone went back to work creating all sorts of imaginative stories to tell.