In November, Thailand’s inflation decreased by 0.25%, lowest since February 2021. Government measures and lower food prices contributed to stable headline inflation of 1.41% this year, with a projected range of -0.3% to 1.7% for next year.
Inflation Decreases in November
In November, the inflation index decreased by 0.25% compared to the previous month and 0.44% compared to the same month last year. This decline in prices was attributed to the cost-of-living reduction measures implemented by the state sector, which had a noticeable impact on energy prices. The Ministry of Commerce also reported a decline in the prices of fresh food, resulting in the lowest inflation rate in 33 months.
Key Takeaways
Inflation in Thailand dropped to its lowest level since February 2021, attributed to government measures and lower prices for basic foods. Headline inflation has only risen by 1.41% this year, indicating a relatively stable inflation rate. Looking ahead to next year, the ministry anticipates a further deceleration of inflation, with a projected range of -0.3% to 1.7%.
The drop in inflation was attributed to the government’s price caps on Gasohol 91 and diesel, as well as lower prices for basic foods like pork, chicken, and vegetable oil. The director-general of TPSO downplayed concerns about deflation and predicted that inflation would continue to decrease this month due to government measures to reduce living costs and lower production costs.
Source : Thai Inflation Rate Reaches 33-Month Low in November
