Commerce Ministry revises inflation forecast, amid falling prices

[webfact]

 

Revising its earlier forecast, the Commerce Ministry now anticipates headline inflation to be within 1-1.7% for the current year, with an average of 1.35%. This comes as a result of expected lowered inflation in the last quarter.

 

In July, the forecasted range was 1-2% with an average of 1.5%. Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office, revealed that the inflation trend in October and the entire fourth quarter is expected to remain subdued and may turn negative.

 

“This is due to the reduced prices of food, including meat, poultry, seafood, and seasonings, as well as energy category products like electricity and diesel. A price drop in the gasoline group is also likely.”

Measures taken by the Commerce Ministry, in sync with manufacturers and shopping malls, to reduce the cost of living and lower prices of goods throughout the year, are also set to keep prices in control.

 

by Alex Morgan

Photo: by Burak The Weekender, on Pexels.

 

Full story: The Thaiger 2023-10-06

 

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[trainman34014]

'Falling Prices' ?  Weekly shop at Big C yesterday the only thing lower than last week was Pork Mince.  Apart from that most items had actually gone up  !

[jacko45k]

17 hours ago, trainman34014 said:

'Falling Prices' ?  Weekly shop at Big C yesterday the only thing lower than last week was Pork Mince.  Apart from that most items had actually gone up  !

Well perhaps they focus on electricity and fuel prices which have gone down. But certainly not items from the BigC shopping cart.... I saw some quite large rises on some of my regular purchases. Likely more to come too with the further weakening baht!