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Thursday, March 28, 2024

‘ Commerce ‘ reveals that Thai inflation has passed the highest point. Overall the first 8 months is at 6.14%.

Ronnarong Poonpipat, director of the Office of Trade Policy and Strategy (OCP), revealed that Thailand’s consumer price index or headline inflation in August 2022 was 107.46, close to the previous month, which was 107.41. Changes in the price index only increased by 0.05%

and compared to the same month of the previous year As a result, the inflation rate of Aug. 2022 is at 7.86%, expanding close to that of July. 2022, which is up 7.61% and Thailand’s inflation is expected to reach its peak. The reason is because during the past 3 months The rise in inflation is at a similar level. Or at least the inflation rate, while the overall 7-month 8-month average (Jan.-August) year 2022 is up 6.14%.

The key contributor to inflation remained energy prices, which grew by 30.50%, although gasoline and gasohol prices declined from the previous month. But the prices of diesel, cooking gas and electricity, which are important transportation and production costs, continue to rise. including service charges such as public fares and higher educational costs As a result, products in other categories other than food and beverages increased by 6.83%.

Products in the food and non-alcoholic beverages category grew by 9.35%. Prices rose as farmland was damaged by floods in many provinces. The price was increased in line with production costs, raw material prices and transportation costs. and the price index base used to calculate the inflation rate in the same month of the previous year is quite low. This is technically an increase in inflation for this month’s inflation.

Mr. Ronnak said that the inflation outlook for September 2022 is expected to begin to decline There are external factors that must be monitored, such as tensions in different regions, the fighting does not increase. The cost of some imported products did not increase. How much will the baht depreciate? from the US interest rate hike energy prices at the end of the year will increase or not from increasing demand And how will Russia’s energy exports be? internal factors price of goods and services gradually increased by the manufacturer acceptable Consumers are not too affected The price of oil continued to decline. Even diesel has not reduced And last year’s inflation base was high. Inflation from Oct.-Dec. 2022 should not increase much And measures to reduce the cost of living by the government are still ongoing.

There are risk factors other than the current situation, such as rising energy prices. Especially diesel, natural gas and electricity costs affect the cost of transportation and production. including the severity of the flooding that may occur This will cause a shortage of fresh vegetables and an increase in prices. and increase in wages Since October 1, 2022, the need to monitor how much the impact will be including some companies that are foreign companies There is a tendency to raise product prices according to the parent company at the end of this year or early next year.

For the full year 2022 inflation target remains revised at 5.5-6.5% with a middle value of 6% which is consistent with the economic situation. and inflation forecasts of Thai economic agencies. by the Office of the National Economic and Social Development Council (NESDB) 4.2-5.5% Bank of Thailand (BOT) 6.2% Fiscal Policy Office (FPO) 6.5% Joint Public-Private Committee 3 Institutions (Kor. Kor.) 5-7%, commercial banks 5.2-6% and the World Bank 5.2%, etc.

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