Inflation explodes… but Commerce Minister doesn’t move his ears, nor his forecast

Inflation explodes (look the chart)… At +8,9 % in june (year on year)…

Let’s remember that for inflation in 2008 :

-NESDB forecasts between 5,3 to 5,8 % (revised in may from 3,2 and 3,7 % !)
-Bank Of Thailand sticks to 4 to 5 % (revised in april from… 2,8 and 4 % ah ah ah)…
-and the government… well… 5,5 %.

What a bunch of clowns. But wait, here is the gold medalist… The Commerce Minister (picture)… Aka The Great Deflator (the man who managed to reduce the price of toothpaste… it’s very serious, read here and there).


However, the Commerce Ministry remains optimistic the oil-price spurt may have run out of gas and that oil prices will not rise as expected in the remaining months, so it has left its annual target unchanged at 5.5 per cent for the year. (Nation)

There is only one comment to make : surreal. 😉

You have to understand their utter despair : they prefer to look (and they are !) for perfect and total fools, to loose face… instead to aknowledge the gravity of the situation… because that would fuel “inflation expectations”…

So I guess, even in november, they will tell us that inflation for 2008 could be 5,5 %.

[last word and “now something completly different” like the Monty Python were saying : The Great Deflator is also the man who wanted to… patent the full moon party “to prevent other countries from copying Thailand’s famous festival” ! I know you don’t believe me… read here]

1 Response to “Inflation explodes… but Commerce Minister doesn’t move his ears, nor his forecast”

  1. 1 BKK News Feed Archive - Q2/08 Trackback on 2 July 2008 at 1:57 pm

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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.

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