Menu/food prices rising in Thailand

[Big Boy]

Thank you very much. That is nowhere near as high as I was expecting. Well below the UK, which is great for British retirees.

[Dannie Boy]

But as Buks mentioned, actual price increases on some items is significantly greater - many foods seem to have increased by double digit figures and if there remains a significant drought, rice prices will increase next year, way above the inflation rate.

[buksida]

The official inflation figures are probably produced by the same department that churns out TAT's "tourist" numbers - both of which are miles away from reality!

According to this, its just 0.88% but we all know stuff is increasing by way more than 1% a year! Groceries are up across the board, alcohol gets hikes 2-3% every six months (but most of that is tax), electric bills are up about 30%, gas is more expensive now, fuel prices are up again. Nobody would even notice 0.88% inflation yet the Thai news is awash with woe over price hikes and cost of living pains, as usual, it doesn't affect the 1% of billionaires that control this country.

https://tradingeconomics.com/thailand/inflation-cpi

[Big Boy]

Generally I agree with the above post, but I am still paying exactly the same for fuel as the day I bought my car 11 years ago.

Only yesterday I saw on the news that a tray of size 0 eggs is increasing to 150฿, so that is well above the inflation rate, but on the other hand, full fat milk since the shortage has actually decreased from 95฿ to 89฿ a bottle (I don't think many of us saw that one coming). Trying to come up with a true inflation rate must be nigh on impossible - constantly shifting sands. However, so long as inflation here stays close to UK inflation, I'm not too bothered.

[buksida]

Sugar Prices Jump as Drought Threatens Thailand's Sugar Output
Sugar prices Thursday posted moderate gains after the Thai Sugar Millers Corp projected Thailand's 2023/24 sugar production would fall by -18% y/y to 9 MMT due to a severe drought.

Sugar prices have been in rally mode this week, with NY sugar climbing to a 4-1/2 month high Tuesday and London sugar posting a 12-year high. Sugar prices surged Tuesday after Alvean, the world's largest sugar trader, said it expects a 2023/24 global sugar deficit of -5.4 MMT, the sixth year of shortages, as India may curb sugar exports and Thailand farmers plant more profitable cassava instead of sugarcane.

https://www.barchart.com/story/news/200 ... gar-output

Stevia is a good substitute for sugar but its double the price already.

Edit: more from Bloomberg ... https://www.bloomberg.com/news/articles ... st-a-fifth

[Lost]

But as Buks mentioned, actual price increases on some items is significantly greater - many foods seem to have increased by double digit figures.

It's the same in uk. What the inflation figures are saying compared to the food shop don't match. At all. All my stuff is 50-100% more from 2 years back and continuing to jump 5% every few months.

This makes me think, tin-foil hat adorned, that supermarkets are taking advantage of the situation.

[deepee]

If sugar shortages means higher sugar prices leading to less sugar consumption in Thailand I would see that as a plus.

[caller]

It's the same in uk. What the inflation figures are saying compared to the food shop don't match. At all. All my stuff is 50-100% more from 2 years back and continuing to jump 5% every few months.

By the time the data is collected, collated and verified, it will always be a little out of date. The figures don't just include food and nor should they, it's about the general cost of living, so fuel is an obvious item that fluctuates.

When I was a kid, part of my job was to collect the data, in my area, physically, from a list provided and where I had to go to get the data. So x named garages x3, to check for fuel prices. Sweet shops (I kid you not) x whatever, to check on the price of spangles, and the same for food and other items on the list. It was a pain, detracted from my main job, and the prices were basically the same wherever I went, so I cut corners and just went to one of each and then copied the results across the board, I might add or detract 1p here or there togive it a bit of authenticity. Luckily after a few months of this, which I was astonished to learn was seen as my responsibility, the system changed and I never had to do it again.

I wonder if the new way of collating data is any better?

[Dannie Boy]

I’m sure there’s an algorithm somewhere collecting all the data in the background - no pencils and paper these days

As for price increases, although there have been some food items in the UK that have increased quite substantially, it’s not everything, so I don’t know how Lost’s prices have risen 50-100% in just 2 years if everything is taken into account.


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[PeteC]

What I really hate are the spokespeople who are quick with the cost increase excuse for whatever may be on the menu of local or world events on a given day, no matter how shallow their excuse is.

[Big Boy]

Generally I agree with the above post, but I am still paying exactly the same for fuel as the day I bought my car 11 years ago.

The price of diesel to drop below 30฿/litre from 20 Sept. A drop in prices all around 'should' follow.

https://www.thaipbsworld.com/cabinet-cu ... el-prices/

[buksida]

I doubt very much that restaurants and cartel supermarkets will be slashing their prices just because diesel has fallen a fraction, but we'll see, its a start.

[Big Boy]

I doubt it as well, but they didn't delay increases when it went the other way.

[buksida]

Economy may face future inflation risk
Thailand's economic recovery is intact but inflation risks could weigh on the country's growth outlook, Bank of Thailand (BoT) governor Sethaput Suthiwartnarueput said on Wednesday.

There was upside inflation risk brought on by the El Nino weather pattern pushing up food prices, plus higher oil prices, the central bank chief told a business forum.

Higher wages and government policies would also contribute to future inflation, Mr Sethaput said.

His remarks come as the new government seeks to revive the sluggish economy with stimulus plans to boost consumer spending.

https://www.bangkokpost.com/business/ge ... f-thailand

[Dannie Boy]

One thing that I’ve noticed is that meat prices have come down (even further) of late, although that has been offset by most other fresh food increasing, so overall costs are reasonably static.