Nonthaburi, May 3 – The director of the NGO reveals that the inflation rate in April 2023 was 2.67 percent, decelerating continuously. At the lowest level in 16 months due to falling oil and food prices. expected inflation in 2013 is between 1.7 – 2.7 percent
Mr. Poonpong Naiyanapakorn, director of the Trade Policy and Strategy Office or SorNorNor, revealed that Thailand’s consumer price index in April 2023 was 107.96 compared to the same month last year, which was 105.15, resulting in headline inflation. Increased by 2.67 percent, slowing down for the fourth consecutive month and the lowest in 16 months, mainly due to the decline in fuel prices. and products in the food category with slowing prices together with the price base in April 2022 used to calculate inflation at a high level
In this regard, Thailand’s inflation rate compared to other countries (Latest data in March 2023) found that Thai inflation is the 14th lowest out of 133 economic zones that have announced figures. which is considered to be at a level better than many economic zones Such as the United States, Italy, the United Kingdom, Mexico, India, Japan and South Korea, and is the lowest in ASEAN out of the seven countries that announced the figures, including Lao PDR, the Philippines, Singapore, Indonesia, Malaysia and Vietnam.
However, the inflation rate in April 2023 increased by 2.67 percent, with movements in prices of goods and services as follows: Food and non-alcoholic beverages category increased by 4.53 percent in line with the increase in prices of important products such as vegetables and fruits (yard long bean, lemon, garlic, watermelon, rambutan, mango) due to unfavorable weather conditions. and higher costs, rice, glutinous rice as the amount of rice decreased due to more exports And the end of the promotion, the price of chicken eggs increases according to the cost of production. and the quantity in the market is not much non-alcoholic beverages (Instant coffee powder, soft drinks, coffee/tea (hot/cold)), household food (finished side dishes) Curry rice/rice box, noodles) according to production costs that are higher than the same month last year. while the price of ingredients (soy sauce, curry paste, oyster sauce) increased.
However, there were still many items with lower prices such as pork, celery, Chinese cabbage, morning glory, banana, vegetable oil, coconut (dried/grated) and tamarind. rose 1.39 percent in line with an increase in the price of important products such as the cost of electricity, cooking gas Public fares (taxi, boat, small bus, songthaew, plane), certain types of fuel (diesel fuel, vehicle gas (LPG), gasohol E85), educational expenses, personal expenses, and cleaning related items (body soap, toothpaste, body powder, fabric softener, etc.). laundry products) due to the end of the promotion. personal service fee (Men’s/women’s hair styling, manicure and pedicure expenses)
In addition, many important items have been reduced in price. As a result, the overall prices of non-food and beverage products are not high, such as fuel in the gasohol and benzene groups. television set air conditioner washing machine menswear Deodorant, face powder, eyebrow pencil, cable TV subscription fee and a mobile phone receiver In May 2023, the inflation trend is expected to slow down considerably. The main reason is the price base for the same month of the previous year used to calculate inflation, which is quite high. And the price of fuel is lower than last year. While the price of some goods and services slowed down. and some items have begun to stabilize.
Although inflation tends to slow down and is expected to be within the specified target frame But there are still factors that may cause inflation to expand more than expected, such as the price of cooking gas that is still at a high level compared to the previous year. which is an important cost of production. Drought problems will affect the quantity and price of agricultural products. Continuously increasing demand from the tourism sector and measures to stimulate the economy of the government which must monitor the situation closely Because these factors will significantly affect inflation.
However, the Ministry of Commerce expects headline inflation in 2023 to be between 1.7 – 2.7 percent and if the situation changes significantly, it will be reviewed again. Overall Consumer Confidence Index April 2023 adjusted up to level 53.5 from level 52. 3 in the previous month It is in the confidence period for the fifth consecutive month (since December 2022) and the highest in 52 months (since January 2019), which is an increase in both current and future consumer confidence index (3 next month), due to (1) the recovery of the domestic economy. that received support from the Songkran festival Which has both Thai and foreign tourists traveling to various places where the event is held in large numbers (2) As the election day approaches (May 14, 2023), people expect that they will participate in determining the political direction of the country. country and (3) the price of diesel fuel decreased. The cost of electricity that people pay increases with the number of units used during the summer. Causing people to worry about the burden of higher cost of living contributed to the overall consumer confidence index gradually improving, etc.-Thai News Agency
Source: Thai News Agency