(CTN News) – June inflation saw an increase in the Consumer Price Index (CPI), which was 107.83 in June 2023, to 108.50.
It is evident that this data has increased when compared to the previous year’s data. Compared to last year, this represents an increase.
As a result of the extreme heat, the prices of fresh food items increased more slowly than those of other food items.
This was a result of farming benefiting from the same climatic circumstances that supported agriculture. This was the cause of what happened. On the other hand, the impact of other goods and services on inflation was minimal. That was the situation.
Food and drink prices rose 0.48% in June, driving inflation to 0.62%.
This was the most crucial component. This was due to the sharp rise in the costs of basic necessities such as rice, flour, and flour-based products, as well as fresh food items including eggs, fresh fruits, and fresh vegetables.
More specifically, this happened as a result of the prices rising considerably. The cost of meals produced both at home and outside, including ready-made dinners, rice with curries, and ordered dishes, increased in tandem with the cost of non-alcoholic beverages such instant coffee and sweetened beverages.
These meals consisted of ordered dishes, ready-made dinners, and rice with curries. These meals comprised rice with curries, a variety of ready-made dishes, and requested foods. A variety of different ingredients, such as sugar, coconut milk, curry paste, and several others, saw price increases.
However, a number of goods have seen price reductions and are now more widely accessible at more affordable costs. These include grilled chicken, tangerines, red onions, garlic, pork, lime, and mackerel.
Other categories had price rises of 0.71 percent, with the exception of food and beverages, as a result of the significant price increases in necessities. This was the outcome of essential commodities seeing price increases.
This category includes commodities like fuel, personal hygiene items, and domestic essentials like toilet paper. The drinking of alcoholic beverages like beer and liquor was one of the things that led to this increase. Many additional reasons also contributed to this expansion.
Conversely, notable price decreases were observed for a broad range of products, such as electricity, T-shirts for men and women, fabric softener, laundry detergent, bathroom cleaner, laundry supplies, and dry cleaning solutions. Numerous products saw price reductions of this nature.
Poonpong claims that the current inflation scenario—which is rising at a reasonable rate while maintaining stability—is appropriate for the reality that is currently developing.
According to Poonpong, inflation is increasing appropriately.
In 2024, Thailand had an inflation rate of 1.54% in the start of May, which was significantly higher than inflation rates in other nations. The main argument for this was that it was a cause that happened momentarily. With this rate, Thailand was positioned in the 23rd lowest position out of 126 economies that provided their information.
Furthermore, it was the lowest it has ever been in the Association of Southeast Asian Nations (ASEAN) among the eight countries who submitted their data: Brunei, Laos, Vietnam, Singapore, the Philippines, Indonesia, and Malaysia.
Among the nations that choose to release their statistics to the public, it was the second-lowest percentage.
According to Poonpong, it was expected that the overall inflation trend for July will resemble that of June. This data served as the basis for this prediction. In addition, the rate of inflation for the third quarter is predicted to be quite near to the 0.78% rate for the second quarter. This is an estimate that has been put forth.
Forecasts indicate that the fourth quarter’s inflation rate will exceed one percent over the course of the whole quarter. This is due to the fact that 2023 was a high base year and monthly inflation was negative at that time. This is the cause of the situation.
Source: Kaohoon
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Salman Ahmad is known for his significant contributions to esteemed publications like the Times of India and the Express Tribune. Salman has carved a niche as a freelance journalist, combining thorough research with engaging reporting.
