Inflation figures for the November 2014 for Thailand is the lowest it has ever been in the past five years as a result of the continued drop in global oil prices.
The inflation or Consumer Price Index (CPI) figures for Thailand for the month of November have shown a drop of 0.12% over the month of October.
Although comparatively this figure represents a 1.26% increase over the previous year’s numbers for the same period, it represents the lowest inflation increase in the last five year period for the country.
More importantly, the numbers have shown a continued seven month slowdown but have not crept into deflation which is a direct consequence of the continued drop global oil prices.
Meanwhile the Thai Shippers’ Council expects that export figures for the year will most probably show either a 0.2% drop or at best a 0.2 % growth.
Furthermore, the following year’s numbers will not meet the 4% growth as was projected but will be more likely around the 2.5% mark as the global economic outlook remains gloomy.