Thailand’s inflation is the lowest in Southeast Asia

BANGKOK (Bernama-VNA): Thailand’s inflation rate is the lowest among the seven ASEAN countries that have already announced their rates, and inflation for the full year is expected to be between 1% and 2% , according to Poonpong Naiyanapakorn, director of the Office of Trade Policy and Strategy at the Ministry of Commerce.

He said Thailand’s low inflation rate is in line with world inflation, which is constantly falling.

The consumer price index for July is equivalent to 107.82, up 0.38 percent on-year.

The low inflation rate is attributed to a drop in food prices such as pork, which has been down for three straight months, and falling energy prices for five straight months, the news agency reported. of Vietnam (VNA).

The prices of food and non-alcoholic beverages in July increased an average of 1.49 percent year-on-year.

However, prices of agricultural products such as eggs, rambutan, greens, lime, ginger and tomato remain high due to low yields caused by climate change, Poonpong reported.

Non-food items such as household appliances, clothing and smartphones experienced a price decline of 0.38% compared to the same period last year, while cooking gas prices, public transport fares and personal services increased compared to the same period last year.

Poonpong said the core inflation rate excluding fresh food and energy rose 0.86 percent on-year. The inflation rate for the first seven months of this year increased by 2.19 percent over the same period last year, which is within the range established by the Fiscal Policy Office.

The July consumer confidence index fell to 53.3 from 56.1 in June, down for eight consecutive months, due to political uncertainty and rising oil and gasoline prices.

The official said that Thai people in general still have confidence in the strength of the Thai economy, thanks to the continued economic and tourism recovery. – Bernama-VNA