The Ministry of Commerce said on Friday that the consumer price index (CPI) continued to decline but also saw a smaller contraction in nine months.


This was weighed down by raw food, especially meat and fresh vegetables.


The consumer price index contracted by 0.41 per cent compared to the same month last year and 0.04 per cent from October.


Pimchanok Vonkorpon, the Trade Policy and Strategy Office’s director-general, said the CPI for November, or headline inflation, has exceeded the market’s estimate at a drop of 0.45 per cent.

In the 11-months period, the CPI has decreased by 0.90 per cent year-on-year.


The food and non-alcoholic beverages price index stood at 106.32, up 1.7 per cent against the same month last year but down 0.23 per cent from the month earlier.


While the index for items, excluding food and beverages, declined 1.64 per cent year-on-year to 99.87 points but saw 0.07 growth from last month.


In addition, the prices of rice, flour, and flour products have declined from last year since the crops were affected by drought and flood in many areas.


Pimchanok also predicted that CPI in December would see less contraction and the entire CPI for this year would decrease by 0.87 per cent.


“The office expects an inflation rate for 2021 at 1.2 per cent thanks to positive factors from the recovering global economy and government’s policies,” said Pimchanok.


However, she added, the risk factors could still be coming from the second wave of COVID-19 outbreak from abroad.


Consumer price index continues to contract in November - Thai Enquirer