Thread: Thailand : inflation could top 10 percent in July

Thai inflation could top 10 percent in July

BANGKOK: Inflation in Thailand could reach double digits in July and August, a central bank official said Monday, after hitting a ten-year high last month. “Don’t be panicked if you see that inflation goes up to double-digits in July and August,” Amara Sriphayak, senior director of the bank’s domestic economy department, told reporters.

“It is possible because the oil price still keeps rising.” The Bank of Thailand governor Tarisa Watanagase made a similar prediction on June 13, but three days later downplayed the remarks in a new statement aimed at reassuring investors.

Annual inflation hit a 10-year high of 7.6 percent in May as soaring fuel prices pushed up costs in food and other sectors. The Commerce Ministry is due to release its inflation report for June on Tuesday. afp

dailytimes.com.pk

Originally Posted by Mid

“Don’t be panicked if you see that inflation goes up to double-digits in July and August,” Amara Sriphayak, senior director of the bank’s domestic economy department, told reporters.

No, lets just ignore it and have a kip. Its the Thai way...

Panicing now

Yeah, don't worry, if you're lucky you'll get a 3% pay rise so you'll only be 7% poorer

... and so the Baht will continue to decline as interest rates fail to keep up.

To paraphrase Harold Wilson.

"This will not affect the Baht in your pocket"

Nope, you'll just need a lot more of them....

It suits my Aussie pension though

as far as the price of rice and diesel are concerned it is a lot more than 10-20%

well time to buckle down, save the pennies, give up going out, stay home leave the telly off and read some books,

Originally Posted by good2bhappy

as far as the price of rice and diesel are concerned it is a lot more than 10-20%

But you are not living on rice and diesel I hope.

Inflation rises to 10-year high of 9.2%

(BangkokPost.com) - The Ministry of Commerce reported that Thailand’s inflation rate this year rose to a new 10-year high of 9.2 percent in July, leading to a less active trading atmosphere at the Stock Exchange of Thailand (SET). The rise in inflation was mainly due to the oil price hikes.

The Permanent Secretary for Commerce, Pairoh Sudsawang, said the Consumer Price Index (CPI) last month hit 128.1 points, 9.2 percent higher than the figure of July 2007 and 0.3 percent higher than that of June 2008.

The Core CPI last month stood at 109.5 percent, increasing by 3.7 percent from July 2007 and up 0.2 percent from June 2008. The CPI and Core CPI in the first seven months of 2008 went up 6.6 percent 2.4 percent respectively.

The Commerce Ministry said the main cause of high inflation last month was the constant rising oil prices. The ministry forecast that this year’s inflation rate should be about 6.6 percent as initially projected.

According to the stock forecast, the support line of the SET Index Friday is 670 points and its resistance line is 680 points. The index is expected to decrease from the morning session and the trading value is still low, as no positive factors have appeared to stimulate investment.

bangkokpost.com

the price of warm gravel will be up next

Gnawing inflation hits rat meat


By correspondents in Phnom Penh, Cambodia | August 27, 2008

THE price of rat meat has quadrupled in Cambodia this year as inflation has put other meat beyond the reach of poor people, officials said today.
With consumer price inflation at 37 per cent according to the latest central bank estimate, demand has pushed a kilogram of rat meat up to around 5000 riel ($1.48) from 1200 riel last year.
Spicy field rat dishes with garlic thrown in have become particularly popular at a time when beef costs 20,000 riel a kg.
Officials said rats were fleeing to higher ground from flooded areas of the lower Mekong Delta, making it easier for villagers to catch them.
"Many children are happy making some money from selling the animals to the markets, but they keep some for their family," Ly Marong, an agriculture official, said by telephone from the Koh Thom district on the border with Vietnam.
"Not only are our poor eating it, but there is also demand from Vietnamese living on the border with us."
He estimated that Cambodia supplied more than a tonne of live rats a day to Vietnam.
Rats are also eaten widely in Thailand, while a state government in eastern India this month encouraged its people to eat rats in an effort to battle soaring food prices and save grain stocks.

Originally Posted by Mid

as no positive factors have appeared to stimulate investment.

The understatement of the century.

minus 3% compared to July and annual rate down to 6.4%
Consumer Price Index and Core Consumer Price Index report
Samak subsidies to the poor played a major role, housing index down 9% and transportation down 7,6%.
Long live PM Samak