Thailand’s inflation rate for September has decreased to 0.30% compared to 0.88% in August. The overall inflation for the year is expected to be 1.35%, largely due to reductions in energy and food prices.
Key Takeaways
- Thailand’s inflation rate for September dropped to 0.30%, primarily due to reductions in energy and food prices.
- Prices of numerous food items and non-alcoholic drinks in Thailand fell for the first time in 23 months, driven by increased supplies of pork and vegetables.
- Inflation in Thailand is expected to average 1.35% for the whole year, lower than the initial estimate of 1.5%, with a possibility of negative inflation in the fourth quarter.
The prices of many food items and non-alcoholic drinks have fallen for the first time in 23 months, primarily due to increased supplies of pork and vegetables. However, non-food and drink items have seen a 0.59% increase in prices. In comparison to last year, the prices of about 300 food items have increased, while the prices of 89 items have dropped, including pork and vegetable oil. Inflation is expected to slow down in the fourth quarter and may even turn negative due to further price cuts on certain food items and energy. The revised estimate for Thailand’s inflation for the whole year is now 1.35%, an improvement from the previous estimate of 1.5%.
