Inflation edges up in Jan in line with commodity prices

 

BANGKOK, 2 February 2017 (NNT) – Thai inflation posted an increase of 1.55 percent in January as prices of oil and food are moving upward, signaling economic recovery. 

According to the monthly inflation report issued by the Ministry of Commerce, the January consumer price index rose 1.55 percent, the highest jump in 28 months. The adjustment was attributable to increases in domestic prices of oil as well as food, especially fruits and seafood for which demands skyrocketed during Chinese New Year and the flood crisis in the South. 

However, the current inflation rate is still considered to be at an appropriate level and indicative of an economic rebound. The rate is predicted to increase by 1.77 percent in the first quarter and between 1.5 and 2 percent on average for the whole year on the assumption that the Dubai crude price ranges from 45-55 US dollars per barrel and the Thai baht trades at 35.5-37.5 baht per US dollar.

 

-- nnt 2017-02-02

My advice to these inflation bean counters is get out into the real world. Its funny how government from around the world keep shooting for 2% inflation. Are they all hunting in the same duck pond. Last year I got 1.3% COLA and the same again this year and no doubt the same again next its all a preconceived game to con us. Its like the old con that unemployment is at its lowest level in decades. Well if your benefits have expired your counted as employed with no  job or sorry your in the column along with millions of other workers that are looking for a job paying a DECENT salary but cannot find one. Your one of a 1/3 or about 100,000,000 million others in the same boat. Over  half the population could not come up with a $1000 if struck by some emergency they would have to borrow it.