Govt hails lower prices of goods in markets

Govt hails lower prices of goods in markets

The prices of basic produce and meats have fallen, which shows inflation is slowing, according to Commerce Minister Jurin Laksanawisit.

Speaking during an inspection of basic commodities at a hypermarket in downtown Nakhon Ratchasima, Mr Jurin said prices have started to come down, in line with an easing of inflation observed over the past couple of months.

Inflation peaked at 7.8% in August, before dropping to 6.4% in September. While October’s inflation figure has yet to be released, the government is expecting it to be below 6%.

He said that in some other countries, inflation rates are still at an all-time high.

Jurin: Inflation high elsewhere

Mr Jurin said the slowing inflation was the result of cooperation between the government and other stakeholders in the market. Pork prices, for instance, averaged 168-170 baht per kilogramme, 12% lower than prices seen in August.

Similar price decreases can also be observed with chicken meat, whose prices went down by 3.7% from a peak in August. Cooking oil retails for 47-50 baht per bottle, down from 70 baht at its peak.

Coriander prices, meanwhile, have fallen by 53%, while kale dropped 14%, after having skyrocketed in recent months due to the floods in local agricultural areas.

The price of jasmine rice went up to 15,500-16,000 baht per tonne, while cassava also went up to 3 baht/kg, as the government’s efforts to find new markets to sell them overseas have started to bear fruit.