Inflation expected to dip through year

The government expects the inflation rate to continuously decrease throughout this year after the rate in January declined, reaching the lowest level in nine months.

The Commerce Ministry yesterday reported headline inflation, gauged by the consumer price index (CPI), rose by 5.02% year-on-year in January, down from 5.89% year-on-year growth in December 2022 due to the deceleration in energy and food prices.

In December 2022, the country’s inflation rate ranked the 32nd lowest of 129 economies.

It was relatively low compared with many others including the US, the UK, Italy, Mexico and some Asean countries such as Laos, the Philippines and Singapore.

In 2022, Thailand’s annual CPI rose by 6.08% over the year before and was ranked the 33rd lowest among 129 economies.

According to the Commerce Ministry, January’s inflation rate was contributed by a 3.18%…