October’s inflation growth slows for 2nd consecutive month

[snoop1130]

 

BANGKOK (NNT) - Thailand’s inflation rate is now expanding more slowly than in prior months, with October’s growth at 5.98%. The deceleration is attributable to the direction of product prices, stabilizing fuel prices, and recent declines in food prices.

 

The Trade Policy and Strategy Office (TPSO) reported the inflation rate was 108.06 in October – a 5.98% expansion. TPSO Director Ronnarong Phoolpipat explained the expansion decelerated for the second consecutive month. September’s inflation rate expanded by 6.41% and August’s rate by 7.86%. 430 goods and services were used to calculate October’s inflation rate. 187 items, including white rice and glutinous rice, experienced price appreciation. Prices of 79 items were unchanged whereas prices of 164 items depreciated. The latter items include pork, vegetable oil, fresh chicken, and laundry detergent. For the first 10 months of the year, inflation has expanded by 6.15%. This remains within the TPSO’s projected frame of 5.5-6.5%.

 

According to the TPSO chief, there is a tendency for inflation to slow down during the remaining two months of the year. Inflationary factors are starting to stabilize, with the Dubai crude price remaining under 100 USD per barrel. At the same time, the Thai baht remains within the predicted range. Furthermore, the Department of Internal Trade has kept product prices as well as quantities at appropriate levels.

 

Mr. Ronnarong said many other countries are experiencing accelerating inflation. Said countries include Singapore, the Philippines, the United Kingdom, Italy, Germany, India, and the United States.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG221108011805979

 

-- © Copyright NNT 2022-11-08

 

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[ThailandRyan]

Don't make me laugh, prices are still increasing on everyday goods.  Still cheaper than the west but still up year on year.

[Kenny202]

What planet are they on or how do they measure it. Pork and chicken come down a bit but everything else relentlessly increasing, and mostly on products have the least reason to increase, apart from monopolies and they can

[Sparktrader]

7 minutes ago, Kenny202 said:

What planet are they on or how do they measure it. Pork and chicken come down a bit but everything else relentlessly increasing, and mostly on products have the least reason to increase, apart from monopolies and they can

Try USA 10%

[Onerak]

13 minutes ago, Sparktrader said:

Try USA 10%

USA is 8.3%, UK and EU is more than 10%. Japan is 3% but mostly caused by hyper inflated dollar. Too much free money during the Covid-19. 

[mjakob007]

It appears I am going to the wrong grocer, wonder where TPSO chaps go shopping.

We seem to be paying higher prices every fortnight...

[HappyinNE]

They are talking the rate of increase not lower prices.  Prices still going up but at a slower rate.  Good way to fool people into believing that inflation is going down.

[nigelforbes]

5 minutes ago, HappyinNE said:

They are talking the rate of increase not lower prices.  Prices still going up but at a slower rate.  Good way to fool people into believing that inflation is going down.

Only people who don't understand English!

[JayClay]

2 hours ago, HappyinNE said:

They are talking the rate of increase not lower prices.  Prices still going up but at a slower rate.  Good way to fool people into believing that inflation is going down.

Not really.... Inflation is going down, according to the articles.

 

The only time we should see prices going down is if there's deflation.

[Adumbration]

Straight up bare faced lie.