Nonthaburi, Director of SNOC. Revealing that Thai inflation in February 2024 remains negative for the fifth consecutive month at 0.77 percent due to measures to reduce the cost of living, energy, electricity, and fresh food groups. But we are confident that there will definitely not be deflation. Ready to follow measures to reduce the cost of living after 19 April 2024, will they continue or not? Mr. Poonphong Naiyanaphakorn, Director of the Office of Trade Policy and Strategy (TNOC), revealed that Thailand's Consumer Price Index for February 2024 was 107.22 compared to February 2023, which was 108.05, causing inflation. General prices decreased by 0.77 percent, decreasing continuously for the 5th month. The main cause is still the price of fresh food. Both meat and fresh vegetables, with large amounts of produce entering the market, as well as diesel fuel and electricity costs. Prices are still lower than the same months of the year. 2023 from government assistance measures In addition, the February 2023 pr ice base used to calculate inflation is still high. Contributes to lower general inflation. For other goods and services, prices move in a normal direction. Thailand's inflation rate compared to other countries The latest data for January 2024 found that Thailand's inflation rate decreased to 1.11 percent, which is still among countries with low inflation rates. It ranks 4th lowest out of 135 economic zones that have announced figures. and is still the lowest in ASEAN out of the 7 countries that have announced figures (Lao PDR, Philippines, Singapore, Vietnam, Indonesia, Malaysia), consistent with general inflation in the first month of 2024 that many countries have slowed down. In this regard, the inflation rate decreased by 0.77 percent this month, due to movements in the prices of goods and services. As follows, the food and non-alcoholic beverage category decreased by 0.97 percent following a decrease in the price of pork, mackerel, white shrimp, sea bass, and fresh vegetables (lemon, cucumber, Chinese cabbage, tomato, cabbage) due to a large amount of produce entering the market. In addition, oil Plant and fish sauce prices decreased for products with higher prices such as rice, chicken eggs, soy milk, some types of fruit creamers (watermelon, bananas, mangoes), granulated sugar, instant coconut milk. Ready-to-drink instant coffee Ready-to-eat dishes, noodles and lunch, other categories that are not food and beverages, decreased by 0.63 percent due to diesel fuel. And the electricity price is still lower than the same month of 2023 from government assistance measures. In addition, men's and women's clothing Things related to cleaning (detergent, bathroom cleaner fabric softener) electrical appliances (television receiver washing machine Refrigerators), including body soap, hair shampoo, protective and skin care products, prices have decreased. Products with slightly higher prices include body powder, deodorant, toothpaste, cold medicine, stomach acid reducer. Medical examination costs Foreign excursion fee s Airfare, cigarettes, liquor and wine cause inflation in the first two months (January - February) of 2024 compared to the same period of the year. 2023 decreased by 0.94 percent The general inflation trend in March 2024 is likely to continue decreasing. with supporting factors from (1) Measures to reduce energy costs of living By fixing the price of electricity at 3.99 baht per unit for households that use no more than 300 units of electricity per month and at 4.18 baht per unit for general households. including direct measures on oil prices Diesel will not exceed 30 baht per liter until April 19, 2024 (2) the high base price of pork and fresh vegetables in previous years and (3) the Thai economy continues to expand at a low level. However, there are factors Causing inflation to increase, including (1) the prolonged conflict situation in the Middle East This may affect the price of commodities. Importantly, especially the price of crude oil in the world market has increased. (2) The baht is likely to depr eciate. As a result, the price of imported goods will increase. (3) Weather conditions that are unstable during the end of the El Niño phenomenon. Including entering the hot season, which will affect the cost and quantity of agricultural products and (4) the continued expansion of the tourism sector. As a result, the demand and prices of goods and services related to the tourism sector have increased. Especially the price of air fares. The Ministry of Commerce still expects general inflation in 2024 to be between -0.3-1.7 percent, a rate that is consistent with the current economic situation. If the government does not extend the cost of living reduction measures that will end on 19 April, it is expected that inflation will return to positive in May 2024 and if the situation changes significantly there will be a review again. Source: Thai News Agency