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Thai Inflation Rate Reaches 33-Month Low in November
Inflation in Thailand hit its lowest level in 33 months in November, with prices of goods declining due to cost of living reduction measures, particularly in the energy sector.
The inflation index in November decreased by 0.25% compared to the previous month and 0.44% compared to the same month last year.
In November, the prices of goods experienced a decline due to cost-of-living reduction measures implemented by the state sector. These measures 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.
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