Thailand: Consumer prices fall sharply in April
May 4, 2020
Consumer prices fell 2.03% month-on-month in April, down from March’s 0.86% drop, on the back of notably lower prices for transport; housing and furnishing; and electricity, fuel and water supply.
Meanwhile, consumer prices fell 3.0% year-on-year in April, down from March’s 0.5% decrease and moving further below the Bank of Thailand’s 1.0%–3.0% target range. Moreover, as Covid-19 continues to wreak havoc on domestic demand, inflationary pressures are expected to remain mild in the remainder of the year. Annual average inflation, meanwhile, eased to 0.3% in April from 0.6% in March and core inflation, which excludes raw food and energy, inched down to 0.4% from 0.5%.
Author: Jan Lammersen, Economist