Thai Commerce MIn assures entire year’s inflation not exceeding 1 percent

[webfact]

Commerce assures entire year’s inflation not exceeding 1 percent



BANGKOK: -- Although consumer price index (CPI) had risen for two consecutive months by 0.46 per cent year on year but full year inflation won't rise over 1 percent as month-on-month inflation was 0.56 per cent.

This was assured by the Commerce Ministry yesterday.

The rise in inflation for two straight months was attributed to rising fuel oil prices and drought.

According to Mr Somkiat Triratpan, inspector-general at the Commerce Ministry and director of its Policies and Trade Strategies Bureau, fuel oil price rises and drought has pushed inflation rate for May to rise by 0.46%.

This represents a sustained two month rise for the country.

But he said inflation would remain positive for the remainder of the year.

Inflation in the third quarter is expected to be 1 per cent, and in the fourth quarter is projected at 2 per cent, resulting in a full-year inflation rate of not exceeding 1 percent, he said.

Meanwhile he said a recent survey made on 450 consumer products and services for the entire country revealed that prices for 193 of these has risen and these include pork, eggs and milk to name a few.

Prices of around 187 goods and services have remained stable while the remaining 80 have fallen.

Source: http://englishnews.thaipbs.or.th/content/165715


-- Thai PBS 2016-06-02

[chainarong]

Deflation In some parts of the western world has given rise to alarm amongst economists , so it is indeed refreshing to see Thailand struggling along on 1% inflation, although predicted figures don't show the true story , like the predicted figures from the finance Ministry show another set of figures , interesting......................... .

[Caveat Emptor]

Well having said it I suppose that's what will be in the end of year figures because if it's higher who will admit it ?

[Mosha]

What items decide the inflation rate here. Because my wife might have an hard time believing him.

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[SABloke]

My food bill says otherwise

[shirtless]

They Cherry pick the products and services , to come to this pultry figure of 1%, i dont trust anything they say

[Emster23]

Weren't they talking a month or so ago about "negative inflation" (usually referred to as "deflation"?). Hmmm if Thai economy shrinks, that would pressure deflation, but then again, if money worth less, those Iphones, etc would be higher priced so inflationary.

[elgordo38]

They Cherry pick the products and services , to come to this pultry figure of 1%, i dont trust anything they say

Cherry picking products and service is now a world wide scam by all governments. My figures are based on the trip to the grocery store and everything is up in price or smaller packages. My favorite peanut butter brand just increased 25%

[elgordo38]

They Cherry pick the products and services , to come to this pultry figure of 1%, i dont trust anything they say

Cherry picking products and service is now a world wide scam by all governments. My figures are based on the trip to the grocery store and everything is up in price or smaller packages. My favorite peanut butter brand just increased 25%. These figures are like the quotation from Startrek "Make it so Scotty"

[sgtsabai]

He obviously hasn't had a "come to jesus meeting" with my wife. I believe she just might have a few things to enlighten his knowledge.

[realenglish1]

Mr Minister can i borrow your crystal ball I want to predict what I will make in the stock market this year

[Mosha]

He obviously hasn't had a "come to jesus meeting" with my wife. I believe she just might have a few things to enlighten his knowledge.

My wife would say he's "kuwan teen"

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[losworld]

There's an expression "figures don't lie but liars figure" and this takes place with inflation and unemployment stats in the west as well. Nothing to fear about deflation. Who the f is scared of falling prices. Inflation is the game of bankers.

[Srikcir]

a full-year inflation rate of not exceeding 1 percent

Thus removing the argument for a higher minimum daily wage and maintaining the midle income trap.