The persistence of low inflation in Thailand, despite the significant rebound in economic activity, has been a unique and sometimes puzzling development that warrants discussion.
From a global perspective, the absence of significant price pressure in Thailand is not exceptional.
Inflation in industrial, developing,and regional economies has declined dramatically in
recent years.
After a marked decrease in the 1990s,average inflation in the industrial economies currently stood below 2 per cent.
In developing economies, the consistent experience of double-digit cross-country average inflation in the past 3 decades had become seemingly ana chronistic, with average