Abundant produce, subsidies bring Thailand’s inflation down for 6th month
Thailand’s consumer price index for March was 107.25, down from 107.76 in the same month last year, resulting in a 0.47% drop in headline inflation for the sixth consecutive month.
This drop in inflation was caused by a slump in the price of fresh foods like meat, vegetables and fruit due to an overabundance of produce.
Additionally, the price of energy, electricity and fuel dropped in March thanks to government subsidies. The prices of electrical appliances and cleaning products continued dropping, while the prices for other goods and services moved in the normal direction.
Thailand’s core inflation rate, excluding fresh food and energy, also rose by 0.37% in March, compared with the previous month’s increase of 0.43%.
In a comparison with other countries in February, it was found that Thailand’s rate of inflation had dropped by 0.77%, making it the 4th out of 136 economies reporting low inflation rates.
