Inflation rises for the first time in 16 months

Thailand saw the first rise in inflation rate in 16 months as drought and fuel pushed up prices of daily essential goods such as vegetables and meats.

Published

5 years ago

May 8, 2016

Akanksha Singh

The Ministry of Commerce has revealed Thailand’s inflation has seen a positive expansion figure for the first time in 16 months, expecting the overall inflation rate of this year to reach 1 percent.

Trade Policy and Strategy Office Executive Director Somkiat Triratpan has revealed Thailand’s Consumer Price Index or the inflation rate of April 2016 was 106.42, which is 0.07 percent higher than the figure of the same period last year. It is the first positive expansion in 16 months since December 2014.

Factors which contributed to the inflation include the rising prices of foods, non-alcoholic beverages, alcoholic products and tobacco.

It is expected that the inflation rate during the third quarter of 2016 will remain positive from the increased fuel prices, while the prices of agricultural produce are likely to decline due to better cultivation in the coming rainy season, feeding more produce to the market.

A nationwide survey on the prices of 450 products and services has shown that the prices of 200 items had increased, while the prices of 166 items had remained unchanged, and the prices of 84 items had decreased.

The Trade Policy and Strategy Office will make adjustments to the inflation rate expectation in June, while the overall inflation rate this year is expected to remain in the 0-1 percent range under the 2.8-3.8 percent economic growth rate.

Inflation rate in Thailand

Country name	2011	2012	2013	2014
Thailand	3.7	1.9	1.6	1.0

(source : World Bank)

Thailand saw the first rise in inflation rate in 16 months as drought and fuel pushed up prices of daily essential goods such as vegetables and meats.

Source: Inflation rate rises first time in 16 months – Thai PBS English News

Economics

Developing Asia growth set to rebound to 7.3% in 2021 (ADB)

Thailand slow vaccination progress coupled with a surge of infections has prompted Kasikorn Research Centre to lower its growth projection for the Thai economy this year from 2.6 percent to 1.8 percent. However, ADB’s forecast for Thailand growth in 2021 remains set at 3% (and 4.5% in 2022).

Published

2 days ago

April 29, 2021

Olivier Languepin and Asian Development Bank

MANILA, PHILIPPINES (28 April 2021) — Economic growth in developing Asia is set to rebound to 7.3% this year, supported by a healthy global recovery and early progress on coronavirus disease (COVID-19) vaccines, according to a new report from the Asian Development Bank (ADB).

(more…)

Economics

Thailand extends the 7,000 baht “Rao Chana” scheme to 33.5 million Thais

The Ministry of Finance said that the new proposal will increase the number of people eligible for the “Rao Chana” relief package to 33.5 million while raising the budget to 3 billion baht.

Published

1 week ago

April 22, 2021

Olivier Languepin

The Ministry of Finance, said today that the new proposal will increase the number of people eligible for the “Rao Chana” relief package to 33.5 million while raising the budget to 3 billion baht.

(more…)

Lifestyle

Bangkok falls 19 places to 49th most expensive location worldwide

Locations reliant on international tourism have seen their rental markets hit especially hard during the pandemic, resulting in some major drops in the rankings. Bangkok has fallen 19 places to 49th, while Hanoi saw a similar drop of 12 places to 81st.

Published

2 weeks ago

April 20, 2021

Olivier Languepin

The decline of Bangkok reflects the severe impact of the Covid-19 pandemic on the rental market in the tourism-reliant Thai economy, according to ECA’s latest survey.

(more…)