Concerns are heightening among analysts over Thailand’s first year-on-year inflation decline in 25 months. The drop in the Consumer Price Index (CPI) is viewed as an indication of increasing risks of economic deceleration and deflation.
BofA Securities, previously known as Bank of America Merrill Lynch, highlighted that the inflation figure for October signified the first year-on-year decline since August 2021. It fell significantly below the consensus forecast of a 0.05% hike.
The research note from the investment banking division of Bank of America released yesterday, November 8, Tuesday stated that these lower inflation figures reflect a growing economic slowdown, in line with our weak consumption data and stalled domestic demand.
This statement followed the release of October’s headline CPI figures by the Commerce Ministry on Monday. The…
