May inflation drops to 42-month low of 2.27%
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Inflation in May slowed to its weakest pace in 42 months to 2.27 per cent year on year, providing room for further policy-rate cuts even though borrowing costs were trimmed recently.
“Inflation eased from declining oil prices in the world and lower domestic oil prices as a result of the baht’s appreciation,” Watcharee Wimuktayon, permanent secretary of the Commerce Ministry, said Monday.
This was the smallest year-on-year reading since November 2009. Consumer prices edged up 0.24 per cent, a five-month record low, from April, according to the ministry. Inflation averaged 2.8 per cent in the first five months of the year.
The Nation
