What...! You can not claim to be an economist anymore. If You said someone have printed more money and amount of quantity is constant or amount of quantity increasing ratio less than amount of paper printing ratio in the system then "Inflation" is not appeared because people only have a few purchasing power after the big wage's jump.
Thai CPI is calculated by group of product that does not represent the actual Thai people Today lifestyle. It use raw meat, fresh grocery,...etc but most of Thai people do not cooking by themself anymore.
When someone have gotten their wage's rising then other people also want to rise their wage too in the unlimited money supply system.
It's so shameful that We have many economists that have not an economics spirit and have destroyed the opportunities of the Next Generation.
Yes, In the 1st Woman Thailand Prime Minister era, she had a big jump in wage's structure and CPI did not increase so much, however, You do not feel the effect of this policy on the noodles's price or Thai style fast food that jump from 25-30 THB/dish to 40-45 THB/dish after this policy is activated.
Oh! I've forgotten the land rental issue, Nowadays rental price is so high and higher because the expectation of Landlords about their depreciation of money value's fearfulness.
#SiamStr #Econ101