Consumer’s price index or inflation rate for the month of October was registered at 106.85 points or 0.34 percent increase compared to the same period last year.

The rate increase was the seventh in a row, averaging 0.06 percent rise monthly for the past ten months.

The increased CPI was attributable to 0.89 percent price increase of food and non-alcoholic drinks segment and 0.02 percent price increase of non-food and non-drink segment such as eggs and pork.

However, Ms  Pimchanok Wornkhorporn, deputy director of the Office of Trade Policy and Strategy said that the inflation rate for the whole year would increase at most one percent as earlier forecast by the Commerce Ministry as the economic growth rate was expected to increase 3.3 percent with the price of crude oil fluctuating between US$35-45 per barrel and the exchange rate between 35-37 baht per dollar.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Japan agrees defence deal with Thailand

As the leader of Asia’s sole member of the Group of Seven (G7), Kishida discussed Russia’s invasion of Ukraine during his trip to Southeast Asia, where only one nation – Singapore – has joined sanctions against Moscow

Russian Invasion to Shrink Ukraine Economy by 45 Percent

The war is also hitting hard the emerging and developing economies of Europe and Central Asia, a region that was already heading for an economic slowdown this year from the ongoing effects of the pandemic