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Economics

Inflation rate for October up 0.34 %, for seventh consecutive month

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

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mango street prices Bangkok

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.

Economics

Asia’s slow rate of vaccination is a thorn in the region’s economic recovery

Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving average. The Philippines and Malaysia are not far off their daily infection peaks reached in the second quarter of 2021.

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Last week was tough for the Asia-Pacific region. Many countries responded to stubbornly elevated daily infections by extending or tightening social distancing measures.

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Economics

World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

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BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

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