The Commerce Ministry has adjusted the base year in calculating the consumer price index (CPI), a gauge of headline inflation, starting with January’s figures to keep pace with changing social and economic conditions.
According to Pimchanok Pitfield, director-general of the Trade Policy and Strategy Office under the Commerce Ministry, the ministry will start applying 2019 as the base year, which was the year the National Statistical Office of Thailand used to complete its survey on national economic and social conditions. It was also the last full year in which Thailand was not affected by the Covid-19 outbreak.
The previous base year was 2015.
The base-year adjustment is being…
