In effect a pay cut for most people
Play
I have just read an article in the Business section of today's Nation ("Retailers hit as spending tightens") which attributes weak consumer demand in Thailand to rising household debts and falling agricultural-product prices.
However you fail to mention another major cause of lower spending, which is the large increase during the past 12-18 months in the price of many basic consumer goods. I have lived in Thailand nearly 20 years and the increase recently has been quite exceptional. The official rate of price increases as indicated by government statistics just does not tally with my experience paying for groceries.
Employers are offering their staff pay rises based on official price data, but they are not adequately compensating for the real increase in prices, which means employees are being short-changed and are actually suffering a pay reduction!
Earlier this year I visited South Africa and was shocked to see how many of the same products are half the price I pay in Thailand.
Please be more circumspect and honest in your reporting of events on Thailand’s economy.
Graham Treadwell
Bangkok
