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Two months in a row of decelerating inflation increase may be seen in October

The inflation rate in Thailand has been decreasing recently, with October’s rate coming in at 5.98%. There has been a slowdown because of the way prices are trending, with gasoline costs remaining stable and food prices falling recently being the main contributors.

Inflation was 108.06 in October, up 5.98% year over year, according to the Trade Policy and Strategy Office (TPSO). For the second month in a row, growth slowed, as TPSO Director Ronnarong Phoolpipat stated. The annual rate of inflation increased by 6.41% in September, following a 7.86% increase in August. The October inflation rate was determined by looking at prices for 430 different items. The cost of 187 commodities, including both white and glutinous varieties of rice, increased. Only 79 goods maintained their previous pricing, while the prices of the remaining 164 items fell. Pork, vegetable oil, fresh poultry, and laundry detergent are examples of the latter. Inflation increased by 6.15% through October of this year. This is still within the predicted range of 5.5% to 6.5% from the TPSO.

The head of the TPSO claims that inflation typically declines in the latter two months of the year. The variables contributing to inflation are leveling down, while the price of Dubai crude per barrel has remained steady. Simultaneously, the Thai baht has not deviated from its expected range. In addition, the Department of Internal Trade has ensured that both pricing and supply levels remain reasonable.

Mr. Ronnarong noted that inflation is rising in a number of other nations as well. Singapore, the Philippines, the UK, Italy, Germany, India, and the USA are all examples of such nations.

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