Thai inflation is expected to be slow for the other 2 months

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          The Thai official data reported on 07/11/2022 that the consumer price index rose 5.98% in October from a year earlier, contributing to the average inflation rate from January to October increasing 6.15% from a year earlier. Meanwhile, the Core CPI in October rose by 3.17% from a year earlier.

          Poonpong Naiyanapakorn, deputy permanent secretary of commerce mentioned that Thai inflation in October rose by 5.98%, its deceleration continuously for 2 months, and Thai inflation in November and December was expected to slow down. Inflation was slowed down because the prices of goods and services have changed by the following;

                          • 187 categories, the prices surged such as fuel, gas, and electricity bills
                          • 79 categories, the prices dropped such as bananas, and televisions
                          • 164 categories, the prices unchanged such as trainers, train fare

          However, Thai inflation still seems to risk of rising from the high energy cost, the weak baht, and rising domestic demand. Moreover, the Ministry of Commerce forecasted that Thai inflation in 2022 will be reached the range of 5.5% – 6.5%, according to the situation of the Thai economy.

Published 16/11/2022

By Windy K.