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WEDNESDAY, December 07, 2022
Sept headline inflation slows as energy, food prices stabilise

Sept headline inflation slows as energy, food prices stabilise

WEDNESDAY, October 05, 2022

September’s headline inflation rose by 6.41 per cent, a slight decline from the previous month, in line with a slowdown in energy, housing and food-ingredient prices, the Commerce Ministry reported on Wednesday.

Ministry deputy permanent secretary Poonpong Naiyanapakorn said the headline inflation index in September was 107.70 points, an increase of 6.41 per cent.

But the inflation expansion rate was lower than that of August, which saw inflation rise by 7.86 per cent.

September’s core inflation rose by 3.12 per cent, compared to an increase of 3.15 per cent in August, Poonpong said.

He noted that the overall prices of goods and services in September were still higher than the same period last year mainly because prices were adjusted higher to reflect increased manufacturing costs.

The rising prices were also attributed to floods, farmland damage and rising demand, which has improved.

Poonpong said the key factors that caused headline inflation to rise were an increase in energy prices by 16.10 per cent. Although oil prices have come down compared to the previous month, the prices were still higher than September 2021.

Meanwhile, electricity fees, cooking gas, medical treatment, personal services such as haircut, necessities such as toothpaste and shampoo, public transportation, school fees, tobacco, alcoholic drinks and cigarettes cost more than in September last year, he reported.

Poonpong pointed out that some goods and services have seen prices go down, including face powder, parcel fees, TV sets, air-conditioners and washing machines.

However, fresh food prices rose by 10.97 per cent as meat and pork cost more, while instant food prices increased slightly but those of food ingredients dropped, though they were still higher than in September 2021.

Poonpong said farms and fields were inundated while demand rose, causing the prices of food and non-alcoholic drinks to rise by 9.82 per cent.

The Commerce Ministry expects fourth quarter inflation to slow down in line with stabilising costs in manufacturing and transportation.

Poonpong said the ministry also expects headline inflation throughout 2022 to be between 5.5 and 6.5 per cent, with a 6.0 per cent median rate.