Inflation expected between 1.5 - 2 percent in 2017

[webfact]

Inflation expected between 1.5 - 2 percent in 2017

 

BANGKOK, 4 January 2017 (NNT) - Rising oil prices in the last quarter of 2016 contributed to the baht's inflation last year to reach an annualized 0.19 percent. Inflation this year has been forecast in the range of 1.5 - 2.0 percent. 

Director of the Trade Police and Strategy Office Pimchanok Vonkhorporn revealed that December's inflation rate of 1.13 percent marks a 25-month peak. Major factors pushing up inflation included the rise in fuel prices and crude oil in the final month of 2016, as well as price hikes in food and nonalcoholic beverages due to unfavorable weather conditions. 

Inflation in 2017 is expected to increase along with the expected rise in household spending, as well as higher agricultural income and government stimulus measures. Thailand's economy this year is expected to grow by 3 - 3.5 percent. Dubai crude oil is expected to be 45-55 US dollars per barrel on higher demand coupled with output cut agreements by members of the Organization of the Petroleum Exporting Countries. 

Meanwhile, the Thai baht is expected to hover between 35.5 - 37.5 baht per US dollar, weakening from last year.

 

-- nnt 2017-01-04

[worgeordie]

So does that mean it's coming down,never seen the price of anything

increase by 1.5 - 2 %, here,they could not work that out,so go with 5-10 %,

I wonder if your money in the bank is ever going to be more than inflation.

 

regards worgeordie

[Srikcir]

18 hours ago, webfact said:

Inflation in 2017 is expected to increase along with the expected rise in household spending

Rise in household spending is unlikely but more so that household debt will continue to increase with little or no increase in consumer wealth to offset it.

 

[trogers]

19 hours ago, worgeordie said:

So does that mean it's coming down,never seen the price of anything

increase by 1.5 - 2 %, here,they could not work that out,so go with 5-10 %,

I wonder if your money in the bank is ever going to be more than inflation.

 

regards worgeordie

 

Look for negative interest rates (correct term is disinterest rates). You take a loan and the bank pays you interests...

Edited January 5, 2017 by trogers

[smotherb]

1 hour ago, Srikcir said:

Rise in household spending is unlikely but more so that household debt will continue to increase with little or no increase in consumer wealth to offset it.

 

A rise in household spending is expected by the Thais since the new visa restrictions are reducing the numbers of ne're-do-wells who spend little.