Thailand's Inflation Remains Negative for Tenth Consecutive Month in January

Thailand's inflation rate remained in negative territory for the tenth consecutive month in January, marking the longest period of price decline since the pandemic began. According to Jin10, data released by Thailand's Ministry of Commerce on Thursday showed that the Consumer Price Index (CPI) fell by 0.66% year-on-year in January, exceeding economists' average forecast. On a month-to-month basis, prices decreased by 0.28%, also below market expectations. Excluding volatile energy and fresh food prices, the core inflation rate rose by 0.6% year-on-year, aligning with previous predictions. Natiya Suchinda, Deputy Director of the Trade Policy and Strategy Office at the Ministry of Commerce, stated in a briefing that consumer prices are expected to continue easing in the first quarter due to low global oil prices and government subsidies for electricity and fuel. She anticipates inflation will shift to 'mild positive growth' in the second quarter. Currently, the Ministry maintains its forecast for the overall inflation rate this year to be between 0% and 1%.