Inflation down for first time in 14 months

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BANGKOK – The Commerce Ministry has found inflation dropped 0.04 percent in May, the first such downward movement in 14 months.

Deputy Director of the Trade Policy and Strategy Office (TPSO) under the Ministry of Commerce, Sureeporn Sahawat said the consumption price index, or inflation, was recorded 100.64 in May, up 0.15 percent from the month before but 0.04 percent down year-on-year. The figure was the first drop in 14 months.

Food and non-alcoholic beverage prices were down 1.38 percent due to a 12.92 percent fall in fresh vegetable and fruit costs after the drought season did not cut supply. Non food and beverage goods were up 0.74 percent due to a hike in energy by 12.52 satang per unit.

The Commerce Ministry is to reconsider its full year prediction for inflation this month by assessing the world fuel supply, which is to be cut by OPEC, as well as domestic spending, which is to be fostered by government assistance.