Thai economy not suffering deflation yet, Commerce Ministry says

[webfact]

Thai economy not suffering deflation yet, Commerce Ministry says

By The Nation

 

Pimchanok Vonkorpon, TPSO director-general

 

Inflation as measured by the consumer price index fell to 99.75 in April, down 2.99 percent on the same period last year and the biggest contraction in 10 years and 9 months, said Pimchanok Vonkorpon, director-general of the Trade Policy and Strategy Office (TPSO) under the Commerce Ministry.

 

The figures were driven down by energy products, especially fuel, which fell by up to 30.85 percent to the lowest level in 11 years and 2 months, said the TPSO. Also contributing were electricity and water bills as well as prices of basic necessities, which have been reduced by government measures to soften the Covid-19 impact.

 

Meanwhile, the price of fresh food products continued to rise as drought hit supply, but at a slower pace thanks to sluggish demand during the Covid-19 crisis. Prices of goods and services in other categories continued to move in line with consumer behaviour.

 

Core inflation dropped from 0.54 percent in March to 0.41 percent in April. Average headline inflation for the first four months (Jan-Apr), compared to the same period in 2019, fell by 0.44 percent while core inflation was up by 0.5 percent.

 

The sharp drop in inflation after the Covid-19 outbreak and plunging oil price had affected demand and supply, especially due to public expenditure during the pandemic, with the trend still downward until May.

 

However, inflation in the second quarter will remain at -2.28 percent. The trend should improve in the third and fourth quarters, said the TPSO.

 

Once the Covid-19 outbreak has been contained, opportunities to open new businesses should rise as government stimulus measures take hold. As such, the TPSO projects inflation of -0.2 percent to -1 percent this year, with a median of -0.6 percent.

 

"Will the negative inflation equate to deflation? At this time the answer is still no, despite negative inflation for two consecutive months now.

 

According to economic principles, deflation has three factors: Inflation below zero; negative inflation for three months; and decline in prices of goods and services. Current figures do not reflect those factors," Pimchanok said.

 

Inflation in April was driven down by the falling price of fuel, but also of non-food and beverage products, which dropped by 5.28 percent, housing (-4.56 percent), and electricity and water bills, LPG, and communication (-0.05 percent).

 

However, price increases were seen for clothing and shoes (0.08 percent), personal treatment and services (0.16 percent), public transport fares (4.29 percent), entertainment and textbooks (0.34 percent), and tobacco and alcohol (0.02 percent).

 

Meanwhile, non-alcoholic food and beverage prices rose by 1.04 percent, except for fruit and vegetables which fell by 4.1 percent. Rising prices were also seen for rice, flour and flour products (7.36 percent); meat, duck, chicken and aquatic animal produce (1.37 percent); eggs and dairy products (5.52 percent); cooking utensils (3.16 percent); and non-alcoholic beverages (2.32 percent).

 

The Producer Price Index dropped by 4.3 percent to its lowest level in four years and 10 months, falling in all categories in line with the global economic slowdown triggered by the pandemic.

 

The price index for construction materials also fell by 4 percent, the 11th consecutive monthly decline, as the price of steel and steel products plummeted by 15.4 percent, in line with world market prices. The price of construction materials has fallen as many real estate and other projects have been delayed due to reduced demand.

 

Source: https://www.nationthailand.com/business/30387389

 

-- © Copyright The Nation Thailand 2020-05-07

 

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[tribalfusion001]

"Thai economy not suffering deflation yet", yet being the crucial word.

[torturedsole]

Lots of percentages bandied about but means nothing to the average impoverished Thai.  

 

Was there ever a film titled The Perfect Storm?

[Relocated]

Why all the civilian servants wear military uniforms?  

[ezzra]

37 minutes ago, Retarded said:

Why all the civilian servants wear military uniforms?  

These are not military uniform, they are civil servant uniforms and it seems that Thai people respect people in uniforms otherwise there no explanations why are they wearing these ugly attire...

[kevin612]

Meanwhile, the Thai currency was rising for the last two weeks.

[Vigilante]

Deflation takes time to manifest

We've been thru this crisis for just 2-3 months.

 

 

Edited May 6, 2020 by Vigilante

[mr mr]

1 hour ago, ezzra said:

These are not military uniform, they are civil servant uniforms and it seems that Thai people respect people in uniforms otherwise there no explanations why are they wearing these ugly attire...

wrong. the uniforms are used as a symbol to keep the peasants inline and remind them they are bottom feeders who should obey and do as they are told. 

[PETERTHEEATER]

1 hour ago, mr mr said:

wrong. the uniforms are used as a symbol to keep the peasants inline and remind them they are bottom feeders who should obey and do as they are told. 

For which actions many decorations and medals are awarded.......

[Brickbat]

3 hours ago, Retarded said:

Why all the civilian servants wear military uniforms?  

Thais judge by appearance. Want to rattle them, rattle off numbers. Especially percentages. 

[Mbaki]

4 hours ago, mr mr said:

wrong. the uniforms are used as a symbol to keep the peasants inline and remind them they are bottom feeders who should obey and do as they are told. 

What rubbish, the uniforms are worn only to signify that the individual is employed by a government department, and some departments only wear the uniform on certain days of the week.

[mr mr]

40 minutes ago, Mbaki said:

What rubbish, the uniforms are worn only to signify that the individual is employed by a government department, and some departments only wear the uniform on certain days of the week.

ok if you say so. carry on now.

[ubon farang]

7 hours ago, Retarded said:

Why all the civilian servants wear military uniforms?  

I tell you guys a funny. When i first come here and saw all the teachers in militrary uniforms i thought they were all in the army Haha

[findlay13]

4 hours ago, PETERTHEEATER said:

For which actions many decorations and medals are awarded.......

They didn't get all those medals for nothing............Oh wait, Errrr.

[hotchilli]

8 hours ago, webfact said:

Thai economy not suffering deflation yet,

Amazing Thailand.

[2 is 1]

59 minutes ago, Mbaki said:

What rubbish, the uniforms are worn only to signify that the individual is employed by a government department, and some departments only wear the uniform on certain days of the week.

Some are elect for they duty! But now when real election not happen in province level. People been in duty for 8 years or so. Normal 4! Coverment officer use uniform! Many other also but they not get benefit like real coverment officer! Like free healt care for family members! Mom,dad,kids and even me because huspand. Ok im not txt all benifit here or my wife not speak to me in month! Still nobody know why use uniform every monday!? I know days when needed but why every monday?????

[Nakdontree]

6 hours ago, kevin612 said:

Meanwhile, the Thai currency was rising for the last two weeks.

Because the BoT is still showing backbone and doesn't allow printing crazy amounts of money. This is in stark contrast to the western central banks that seem to degenerate to mere puppets of the banking industry.

[LazySlipper]

7 hours ago, Retarded said:

Why all the civilian servants wear military uniforms?  

Just like Thai teachers civil servants wear uniforms usually on Mondays and wear regular garb the rest of the week... hope this helps...

[billd766]

9 hours ago, torturedsole said:

Lots of percentages bandied about but means nothing to the average impoverished Thai.  

 

Was there ever a film titled The Perfect Storm?

Yes there was.

 

https://www.imdb.com/title/tt0177971/

 

Storyline
In October 1991, a confluence of weather conditions combined to form a killer storm in the North Atlantic. Caught in the storm was the sword-fishing boat Andrea Gail. Magnificent foreshadowing and anticipation fill this true-life drama while minute details of the fishing boats, their gear and the weather are juxtaposed with the sea adventure.

[mok199]

9 hours ago, ezzra said:

Why all the civilian servants wear military uniforms?

Another even deeper question is why the uniforms are always 3 sizes too small .....

[yourauntbob]

Economies don't "suffer" from deflation, governments do.   Deflation is good for people and companies.  The reduction in prices means increased consumption.  It also allows for more conservator investing.

 

Goveremts like inflation because it increases capital gains taxes not to mention only a government can inflate by printing currency which is a tax on everyone 

[Nakdontree]

1 hour ago, yourauntbob said:

Deflation is good for people and companies.

Actually I would like to complete this sentence as follows:

"Deflation is good for people and companies except big banks and investment companies."

[Mulambana]

16 hours ago, torturedsole said:

Lots of percentages bandied about but means nothing to the average impoverished Thai.  

But it meant lots to losers who could not do anything in their life in their home countries and fled to Thailand to take refuge.

[pixelaoffy]

pathetic country. Curfew for what? Need to get out 

[ParkerN]

21 hours ago, Retarded said:

Why all the civilian servants wear military uniforms?  

It's a status thing. Some time ago, some bright spark thought it was unfair for soldiers and sailors to have all the pretty uniforms, so a new one was thought up, with campaign ribbons etc - the full schtick, So the pooyays could feel all military and important and stuff. Cynical? Probably, but it rings true enough. That and there are some very hefty kickbacks due from uniform sales. Got to maintain the upward flow of corruption money, can't let that dry up - nossir. The price of doing business in Thailand.

 

Nobody has satisfactorily explained the campaign ribbons to me , nor the parachute badge (I assume that's a paratrooper knock-off), but i'm assuming the ribbons are trivial expressions of rank - 'Knowing where the toilets are', 'Knowing where the coffee machine is...", that sort of thing.

 

I don't know if it's a SE Asian thing, but I assume it's the Thai equivalent of the (seriously) bizarre Indian ceremonial marching thing. If you've never seen that, there's a good few clips on YT, let them make your day for you. Perhaps many ASEAN Nations share te Thai love for a man (or woman) in uniform, I don't know. Some knowledge should forever remain i the realms of what is not known about - it's  a sanity thing.

 

Hope this helps, it's certainly useful to have a sense of the bizarre if making your home in Thailand. Personally, I have a soft spot for the MP Helmets - the ones that look like bicycle crash hats. I saw half a dozen of those when watching the army and police checking the shoplets at Tesco Lotus the other day - much to the entertainment of TESCO staff and customers (mainly Chinese and Sino-Thai - the usual thing). I needed to go to the TRUE shop, which appeared to be the only non-supermarket shop open (and it was certainly crowded) to collect a repaired phone. I recall asking myself, why it was the only non-Tesco Lotus shop open on the day; but that was before I noticed the big red TRUE sign and remembered that TRUE is a large donor for all sorts of government thingies... That explained the puzzle for me.

 

Hey ho... A sense of humour is an essential attribute if you're going to live in LOS.

 

 

Edited May 7, 2020 by ParkerN

[samsensam]

3 minutes ago, ParkerN said:

It's a status thing. Some time ago, some bright spark thought it was unfair for soldiers and sailors to have all the pretty uniforms, so a new one was thought up, with campaign ribbons etc - the full schtick.

 

Nobody has successfully explained the campaign ribbons to me , nor the parachute badge (I assume that's a paratrooper knock-off), but i'm assuming the former are trivial expressions of rank - 'Knowing where the toilets are', 'Knowing where the coffee machine is...", That sort of thing.

 

I don't know if it's a SE Asian thing, but I assume it's the Thai equivalent of the (seriously) bizarre Indian ceremonial marching thing. If you've never seen that, there's a good few clips on YT, let them make your day for you. Perhaps many ASEAN Nations share te Thai love for a man (or woman) in uniform, I don't know. Some knowledge should forever remain i the realms of what is not known about - it's  a sanity thing.

 

Hope this helps, it's certainly useful to have a sense of the bizarre if making your home in Thailand. Personally, I have a soft spot for the MP Helmets - the ones that look like bicycle crash hats. I saw half a dozen of those when watching the army and police checking the shoplets at Tesco Lotus the other day - much to the entertainment of TESCO staff and customers (mainly Chinese and Sino-Thai). I needed to go to the TRUE shop, which appeared to be the only non-supermarket shop open (and it was certainly crowded) to collect a repaired phone. I recall asking myself, why it was the only non-Tesco Lotus shop open on the day; but that was before I noticed the big red TRUE sign and remembered that TRUE is a large donor for all sorts of government thingies... That explained the puzzle for me.

 

Hey ho...

 

 

 

they love uniforms because of the culture of fitting in, being the same, not being different, and that's fine, it makes them feel included and part of one big whole. the medals and paratrooper badge do interest me, do they actually mean anything? are there so many trained paratroopers in the country, and why? can you buy your own medal ribbons?

 

as for the high stepping indian and pakistani soldiers, i've witnessed them at a pakistan/indian border crossing. they also use the tallest soldiers in their respective armies and give them big hats, generally it looks very serious and intimidating but is sometimes more light hearted.

[ParkerN]

1 hour ago, samsensam said:

 

they love uniforms because of the culture of fitting in, being the same, not being different, and that's fine, it makes them feel included and part of one big whole. the medals and paratrooper badge do interest me, do they actually mean anything? are there so many trained paratroopers in the country, and why? can you buy your own medal ribbons?

 

as for the high stepping indian and pakistani soldiers, i've witnessed them at a pakistan/indian border crossing. they also use the tallest soldiers in their respective armies and give them big hats, generally it looks very serious and intimidating but is sometimes more light hearted.

 

The first point is undoubtedly a factor, must maintain the borg. the second is unsurprising, though entertaining. Thanks for the assist.

 

 

Edited May 7, 2020 by ParkerN

[chickenslegs]

7 minutes ago, ParkerN said:

Nobody has successfully explained the campaign ribbons to me , nor the parachute badge (I assume that's a paratrooper knock-off), but i'm assuming the former are trivial expressions of rank - 'Knowing where the toilets are', 'Knowing where the coffee machine is...", That sort of thing.

For what it's worth, some of them are listed here - https://en.wikipedia.org/wiki/Orders,_decorations,_and_medals_of_Thailand

 

AFAIK, the 'wings' can be awarded for taking a simulated parachute jump from a static tower. My guess is that some people have really earned their wings (Thai Marines do have an excellent reputation) but others have just done the simulation. It's a shame that those awards are devalued by the poseurs.

[3NUMBAS]

give it time till the hammer comes down hard

[Pilotman]

On 5/7/2020 at 5:39 AM, kevin612 said:

Meanwhile, the Thai currency was rising for the last two weeks.

That must be because it's being manipulated, to protect the high ups foreign investments.  As it is counter to all economic logic, there had got to be another reason for its strength, besides all other currencies weakening as well, which of course doesn't help those of us who want to see a weak Baht.