Connect with us

Business

Phuket Business: Food and energy inflation soaring

Legacy Phuket Gazette

Published

 on 

PHUKET: Once again, raw data from the Commerce Ministry has affirmed that the South, and particularly Phuket, continues to be “hotter” – in terms of the cost of living – than elsewhere in the Kingdom.

The Phuket Commerce Office, in conjunction with the Commerce Ministry’s Bureau of Trade and Economic Indices, recently published the Provincial Consumer Price Index (CPI-P) for September.

The report compared the cost of living in September 2012 with the previous month (m-o-m), and with September of last year (y-o-y). It also compared the first nine months of the year with the same period in 2011.

Thailand’s overall CPI study surveyed 417 consumer categories, but the CPI-P for Phuket looked at only 256, covering everything from food and beverages, apparel, shoes and day-to-day necessities, to medical and personal care services, vehicles, transport, communications, entertainment, education and religion.

Using 2007 as a base year (100 points) Thailand’s overall CPI average peaked at 116.67 points in September, compared to 116.28 points in August, equating to a m-o-m rise of 0.84%. The y-o-y inflation rate was 3.38% and the Commerce Ministry has projected the full-year figure to be between 3 and 3.4%.

Phuket’s CPI-P average peaked at 127.1 points in September, compared to 126.8 points in the previous month, a m-o-m increase of 0.2% and y-o-y rise of 5.5%. For the first nine months of the year, inflation was at 6% y-o-y – more than twice the national average.

According to the study, food and beverage items, on average, did not rise (even though from July to August 2012, the category rose by 1.5%). However, certain sub-categories did.

Namely, the price of fresh vegetables (cucumbers, Chinese cabbage, kale, parsley, morning glory, mushrooms and lime) increased by 2.3%, which the report attributed to heavy rains affecting crop supplies. In-home foods rose by 0.8%, and out-of-home foods (noodles, rice and curry at eateries and stalls) by 3%.

Meanwhile, the price of rice, flour and flour-based foods dropped by 0.2%; meats, poultry and seafood, eggs and milk products by 0.9%; fresh fruits (oranges) by 8.3% and food condiments, which includes seasonings and sauces, by 0.1%.

Prices of non-food and beverage items surveyed rose by 0.5%, compared to the previous month’s rise of 0.4%. This change was attributed mostly to the rise in tobacco and alcoholic product prices, which jumped 5.2% due to an increase in respective duties which took effect in August.

Housing utilities (electricity and water) rose in the month by 0.6%, attributed to an increase in the Fuel tariff (Ft) of the Energy Regulatory Commission.

The new Ft, effective from September to December, is 48 satang per unit, up 30 satang from the previous Ft of 18 satang. Meanwhile, medical and personal care services, which includes the cost of pharmaceuticals, nudged up by 0.2%. Fuel fell by 0.9%.

Compared to September 2011, Phuket’s cost of living rose 5.5%, with food and beverage jumping by 7.2% and fruits and vegetables by 12.7%. Out-of-home foods rose by 9.6% and in-home foods by 6.5%. Meats, poultry and seafood rose by 5.7% and rice, flour and flour-base foods by 3.5%. Non-alcoholic beverages rose by 2.6%, egg and dairy products by 1.7% and food condiments up by 1%.

As for non-food-and-beverage items, average inflation was 3.8%, which came from a 9% rise in apparel and shoes; 6.9% jump in alcohol and tobacco products; 5% hike in vehicles, transport and communications – a category which includes fuel, public transport fares and automobile prices; a 2.1% rise in housing, and a 1.3% increase in the cost of medical and personal care services.

When comparing the first nine months of this year with the same period last year, inflation was 6%, attributed to a 8.8% rise in food and beverages, calculated from the following increases: fruits and vegetables (17.4%); in-home foods (10.8%); meats, poultry and seafood (10%); food condiments (8.5%); out-of-home foods (6.8%); rice, flour and flour-based foods (5.7%); eggs and dairy products (2.8%) and non-alcoholic drinks (2.4%).

As for other non-food, non-beverage items, inflation averaged 2.1%, which came from price rises in apparel (5.4% ), vehicles, transport and communications (4.6%); housing (2.4%); medical and personal care services (1.8%) and alcohol and tobacco products (0.4%).

Meanwhile, prices of products and services related to entertainment, reading, education and religion declined on average of 0.8%

— Steven Layne

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Follow Thaiger by email:

Thailand12 mins ago

Thailand News Today | OnlyFans content creators arrested on pornography charges | September 21

Thailand2 hours ago

Soldier allegedly assaults neighbours following horn honking

Thailand3 hours ago

Border agencies instructed to look out for gun smuggling along Myanmar border

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Coronavirus (Covid-19)3 hours ago

Tuesday Covid Update: 10,919 new cases; provincial totals

Thailand4 hours ago

Officials clarify Korat police van stopped at the beach after collecting murder suspect

Crime4 hours ago

OnlyFans content creators arrested by Thai police on pornography charges

image
Join the conversation on the Thaiger Talk forums today!
Thailand4 hours ago

Comments Galore! feat. Golf | Thaiger Bites | September 21

Cambodia5 hours ago

Scientists study bats in Cambodia to find clues about Covid

News6 hours ago

Update: government official that allegedly stole from fund meant for the disabled spent all the money on gambling

Thailand6 hours ago

Morning Top Stories | Reopening of entertainment venues, Manny Pacquiao for president | September 21 |

World6 hours ago

Flight restrictions to the US to ease in November – US government

Thailand8 hours ago

Bangkok re-opening Criteria, Thai Airways keeps Struggling | Good Morning Thailand | Episode 93

Thailand8 hours ago

Government warns that posting pornographic material is illegal following OnlyFans creator being questioned by police

Indonesia8 hours ago

Bali to re-open for international yachts with fully vaccinated crew, passengers

World8 hours ago

British Airways tests first ever net-zero carbon emissions flight

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14 | Thaiger
Thailand1 week ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand7 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism7 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket7 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism7 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand7 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism7 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand8 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand8 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand8 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand8 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand8 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand8 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand8 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand8 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending