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Thailand’s inflation in May the lowest for 21 months

Thailand’s inflation in May the lowest for 21 months

19 Sept 22:58 Key points summarised by AI
  • Thailand's inflation rate dropped to a 21-month low of 0.53% in May, marking the fifth consecutive monthly decline, largely attributed to lower electricity and fuel costs.
  • While non-food and non-drink prices decreased, specific food items like vegetables, eggs, and ready-made meals saw price hikes due to reduced output and increased production costs.
  • Warnings suggest inflation may rebound from a potential minimum wage increase (Move Forward party's pledge) and an impending drought impacting fresh food supplies.
  • Industrial exports to the US and China fell 7.6% in April, though agricultural exports rose; overall export growth is projected to slow by 1% this year.
  • Experts advocate for the new government to boost exports and for the Bank of Thailand to cautiously adjust policy rates to support small and medium-sized enterprises.
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