Thailand’s inflation rate is the lowest among the seven ASEAN countries which have already announced their rates, with inflation for the whole year expected to range between 1% and 2%, according to Poonpong Naiyanapakorn, director of the Commerce Ministry’s Trade Policy and Strategy Office.

Based on information from June, he said Thailand’s low inflation rate is in line with global inflation, which is steadily falling, and is the lowest compared to Laos, the Philippines, Singapore, Indonesia, Malaysia and Vietnam.

The consumer price index for July is equivalent to 107.82, compared to 107.41 for the same period last year, resulting in a rate increase of only 0.38% YoY. The low inflation rate is attributable to a drop in food prices, such as pork, which has continued for three consecutive months, and energy prices falling for five months in a row, compared to the same period last year.

Prices of food and non-alcoholic drinks for July rose an average of 1.49% year on year. The prices of farm products, such as eggs, rambutan, vegetables, lime, ginger and tomato, however, remain high due to low yields caused by climatic changes.