Results 1 to 7 of 7
  1. #1
    I am in Jail

    Join Date
    Oct 2007
    Last Online
    26-06-2015 @ 01:33 AM
    Location
    โรงแรมม่านรูด
    Posts
    4,290

    Finance minister confident inflation won't hit double digits

    Finance minister confident inflation won't hit double digits

    BANGKOK, July 3 (TNA) –


    Finance and Deputy Prime Minister Surapong Suebwonglee on Wednesday again voiced confidence the country's inflation rate would not hit the double-digit level as many fear, as oil prices are unlikely to rise considerably from the current level.

    Thailand's consumer price index (CPI) in June this year rose 1.2 per cent from May but soared 8.9 per cent from 2007.

    Core inflation for June rose 0.9 per cent from May but was up 3.6 per cent from last year. Core inflation during the first half of 2008 advanced 2.2 per cent from the same period of last year due to higher prices of goods, prepared food, construction materials and bus fares.

    The finance minister conceded that the surge in the general inflation rate in June to the highest level in almost a decade stemmed from the continued increase in oil prices, and that the latest inflation figure is relatively quite high because the base figure last year was low.

    However, Mr. Surapong said he believed oil prices will not continue their upward surge to touch US$170 per barrel as many are now expecting. Rather, they will probably move in a range of $130-140 per barrel because speculation in the fuel prices by hedge funds appeared to begin easing.

    Given these factors, the finance minister said he was confident that the inflation rate would neither increase significantly nor reach the double-digit level as many worried.

    Regarding news reports that Prime Minister Samak Sundaravej had approached former deputy prime minister Virabongsa Ramangura to join the economic team, he said the premier had not yet made a clear remark about the cabinet reshuffle.

    Still, he affirmed the current economic team had worked together smoothly to address the country's economic woes although the results of its efforts to cope with the problem were rather limited because there were many obstacles.



    (TNA)

    Business News : Last Update : 09:19:47 3 July 2008 (GMT+7:00)



    Still, he affirmed the current economic team had worked together smoothly to address the country's economic woes although the results of its efforts to cope with the problem were rather limited because there were many obstacles.

    and a lack of brains

  2. #2
    I am in Jail

    Join Date
    Jun 2008
    Last Online
    20-06-2012 @ 03:24 PM
    Posts
    5,528
    if you read the Nations paper. They are citing double digits inflation thru out 2009.....

  3. #3
    Tax Consultant
    Thormaturge's Avatar
    Join Date
    Jul 2007
    Last Online
    @
    Location
    Bangkok
    Posts
    9,892
    Quote Originally Posted by gjbkk View Post
    Core inflation during the first half of 2008 advanced 2.2 per cent from the same period of last year due to higher prices of goods, prepared food, construction materials and bus fares.
    Easy. Just remove those from the CPI calculation and replace them with, say BTS fares and a few other regulated prices and we might well have the lowest inflation rate on the planet.

  4. #4
    I am in Jail
    Butterfly's Avatar
    Join Date
    Mar 2006
    Last Online
    01-02-2019 @ 03:12 PM
    Posts
    39,832
    won't be surprised that they start with full price control to stop inflation,

    reminds of the 70s,

  5. #5
    bkkandrew
    Guest
    ^Indeed. The Thais must show the World that they are 40 years behind and have learnt from none of the mistakes made.

  6. #6
    Tax Consultant
    Thormaturge's Avatar
    Join Date
    Jul 2007
    Last Online
    @
    Location
    Bangkok
    Posts
    9,892
    Thais don't make mistakes.

    Indeed sometimes they are the only people getting it right but the rest of the world fails to appreciate the special "Thai way" of doing things, so the Thais are forced to pay for everyone else's mistakes, in silence, being the gentle folk they are.
    I see fish. They are everywhere. They don't know they are fish.

  7. #7
    Not an expat
    Fabian's Avatar
    Join Date
    Jul 2005
    Last Online
    04-09-2017 @ 09:31 PM
    Location
    Hamburg, cold dark Germany
    Posts
    5,381
    Quote Originally Posted by Butterfly View Post
    won't be surprised that they start with full price control to stop inflation,

    reminds of the 70s,
    I thought they already started that.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •