Thailand’s Inflation rate for September has fallen to 0.30%, from 0.88% in August, and inflation for the whole year is expected to be 1.35%, thanks to energy and food price reductions.
According to Poonpong Naiyanapakorn, director of the Office of Trade Policy and Strategy of the Commerce Ministry, the prices of numerous food items and non-alcoholic drinks fell in September, for the first time in 23 months, by about 0.10%, particularly the prices of pork and vegetables due to increased supplies. The prices of non-food and drink items, however, were up by 0.59%.
Compared to the prices of 430 food items and services in September last year, about 300 food items have increased this year, among them eggs, rice and sticky rice. The prices of 41 food items remain unchanged, while the prices of 89 items have dropped, including pork, vegetable oil and electricity.
Inflation in the fourth quarter is forecast to slow and may drop into negative territory, due to further price cuts on some food items and energy, said Poonpong.
For the whole year, Thailand’s inflation may average 1.35%, an improvement over the previous estimate of 1.5%.