Thailand: Inflation forecast slowest in 2 years

  • The government on 1 Sep 19 lowered the annual inflation forecast to a range of 0.8-0.9% in 2019, the slowest growth in two years, from 0.7-1.3% in Jul 19, due to lower oil prices.
  • Pimchanok Vonkorpon, director-general of the Trade Policy and Strategy Office, said the latest forecast was based on oil prices averaging USD64 per barrel, the exchange rate reaching THB32-32 per dollar and GDP growth stagnating at 3.3-3.8%.
  • “Consumer prices grew at a slower pace in Aug 19 because of declining energy prices and low demand, notably for construction materials and steel in the property sector,” she said. “The ongoing trade war resulted in lower condominium purchases by Chinese investors.”
  • The rise in Aug 19’s prices was boosted largely by a rise in food prices, particularly for milled rice and glutinous rice, vegetables and pork.

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