Inflation rate in first 7 months stand at -0.07%

[webfact]

Inflation rate in first 7 months stand at -0.07%

BANGKOK, 2 August 2016 (NNT) - July’s inflation rate keeps rising following increasing prices caused by the seasonality of some products. The average inflation rate in the first seven months this year was -0.07% as prices of most products and services decreased. 

Director of the Trade Policy and Strategy Office, the Ministry of Commerce, Somkiat Trirattanaphan on Monday said the inflation rate in July was 106.68, increasing by 0.10% compared to the same period last year. Inflation increased for four months in a row following higher prices of fruits, eggs and dairy products. However, the overall prices of products and services as well as oil price dropped by 0.35% compared with the previous month. It was the first decrease in six months. 

The ministry will revise this year’s inflation rate previously expected to expand by 0 - 1%. The director said inflation would not change much but warned that this year’s average inflation rate would be in negative territory if oil price dropped further. 

-- NNT 2016-08-02

[Srikcir]

While goods news that the cost of living is unchanged, bad news for economic growth. Household debt becomes more difficult to resolve and consumer demand will shift in favor of basic commodities.

[trainman34014]

''As prices of most products and services decreased''.   Maybe in lala land but not around these parts you boneheads !

[SOTIRIOS]

...they should get their terms straight....

[mesterm]

41 minutes ago, trainman34014 said:

''As prices of most products and services decreased''.   Maybe in lala land but not around these parts you boneheads !

Yes, I'm wondering which services they're referring to. Maybe bar girl prices? Many forum users might know better about that.

[elgordo38]

Thanks Pinocchio. Please come and go grocery shopping with me.

[Narratio]

"Oil price dropped by 0.35%" - Errr.... less than half a percent? I don't think so. But then again, none of the figures given out by government make much sense.