BANGKOK, 4 November 2014 – The Ministry of Commerce has revealed that the inflation rate has reached the lowest level in 12 months as gas prices have been declining and there are more fresh produces in the market.
According to the Ministry of Commerce, the consumer price index in October expanded by only 1.48% compared to the same period last year, the lowest rate in 12 months. The downward trend has already continued for 5 consecutive months.
It is said that decreasing gas prices and higher farm productivity were two major factors that caused the inflation rate to weaken. Inflation’s growth rate during the first ten months stands at 2.08%.
It has also been estimated that the inflation will slow down during the last two months of the year. However, the annual rate would still be at 2.14% which is in line with the Ministry’s estimate. The move to raise taxi fare in December is said to have little impact on the inflation as well.
