Thailand’s inflation rate in April rose by 0.9%, the first increase in seven months. The rise is attributed to higher oil prices and agricultural produce prices. Inflation is expected to increase in the second quarter, with the consumer price index for April at 108.16.
Thailand’s Inflation Rate Rises for April
Thailand’s inflation rate for April increased by 0.9%, marking the first rise in seven months. Poonpong Naiyanapakorn, director of the Trade Policy and Strategy Office, expects the rate of inflation in the second quarter to increase by 0.8%-1.0%.
The consumer price index for April reached 108.16, a 0.19% increase from the same period last year. The rise in inflation is attributed to higher oil prices and increased prices of agricultural produce, particularly vegetables and fruits, due to lower output caused by the hot weather and drought.
Factors Affecting Inflation
Poonpong revealed that out of the 430 items used in calculating the inflation rate for April, prices of 279 items increased, 53 remained unchanged, and prices of 101 items dropped. This led to a 0.2% increase in the food and non-alcoholic drinks category, while prices of items such as pork, mackerel, vegetable oil, and garlic decreased. In addition, non-food and alcoholic drink items rose by 0.12% on average, with increased prices of gasohol and benzine playing a significant role. Despite a 0.55% drop in the average consumer price index for four months, basic inflation saw an increase of 0.37% in April and an average of 0.42% for the first four months of this year.
