Bureau of Trade Policy and Strategy Ministry of Commerce (OCP) reported numbersconsumer price or general inflation August 2022, an increase of 7.86% Hit the record high again. As Thailand’s inflation reached its highest level last monthIn June, the level was at 7.66%. andfell 7.61% in July. The main reason for Thailand’s high inflation is still a matter ofenergy pricethat has risen throughout the past several months
However, when considering inflation in Thailand compared to foreign countries Thailand’s inflation rate in July 2022 was at 7.61%, ranking relatively low.It is the 85th highest out of 127 countries.The figures published (data from TradingEconomics as of 29 Aug 2022) are better than many countries such as the UK in July 20, 10.1% high, Brazil 10.07%, and Spain in Aug 65. High 10.4%
byNPG.look at Thailand’s inflation has passed its peak.already and will gradually decline in the next months The reason is because during the past 3 months The rise in inflation is at a similar level. or at least inflation will stabilize. both producer price index and building materials price index Compared to last month continuously decreased
However, the NSO also gaveKeep an eye on external factors that will affect inflation.of Thailand, whether Tensions in different regions, the fighting did not increase. The cost of some imported products did not increase. How much will the baht depreciate? from the US interest rate hike energy prices at the end of the year will increase or not from increasing demand And how will Russia’s energy exports be?
althoughThailand’s inflation will show signs of slowing down. But when focusing on household expenditures in August, Thais’ monthly expenditures are still nearly 20,000 per month, or an average of 18,069 baht. This was because the prices of consumer goods and food products remained high, such as the price of pork and red meat. Hips without trim, price 190-195 baht per kg. Pork belly, price 230-250 baht per kg. Fresh whole chicken, not including the machine, at a price of 75-85 baht per kg.
Meanwhile, chicken eggs No. 3 per egg, 4.00-4.20 baht per egg, ready-to-eat food, which have been adjusted according to production costs, raw material prices and transportation costs, not counting the prices of vegetables, fresh chili, spring onions, and kale, which are expected to increase. Because the farmland has been damaged by floods in many provinces.
in additionThai people still have to prepare to deal with price adjustments for many items.that will gradually follow after the Department of Internal Trade Ministry of Commerce Green light to raise the price of instant noodles to no more than 1 baht per pack in 3 brands: Mama, Wai Wai and Yum Yum.
According to the latest data from the Ministry of Commerce, since December 2021 until Jul 2022 total period 8 months, a total of 127 manufacturers filed for price increases from 116 companies, totaling 936 products in 11 product categories. namely: 1. Paper and products category 2. Transport equipment category 3. Agricultural factor category
4. Petroleum products category 5. Medicines and medical supplies category 6. Construction materials category 7. Major agricultural products category 8. Consumer products category 9. Food category 10. Other category and 11. Service category
Although the Ministry of Commerce does not currently raise product prices, it is expected that inflation plus minimum wages will increase in the month. Oct. Energy prices that remain stable at a high level will put pressure on higher production costs.Green light to increase product prices whichThai people must prepare themselves to spend more money in their pockets.for the cost of this increase.