(Photo: Apichart Jinakul)Analysts are expressing concerns about Thailand's first year-on-year decline in inflation in 25 months, saying the dip in the consumer price index (CPI) reflects growing risks of an economic slowdown and deflation. "Recent inflation data fell below our expectations, indicating the Thai economic recovery, apart from the tourism sector, remains weak," said BofA. "Thai inflation is considered low compared with other countries in the region, and remained below the target of 2% for six consecutive months," KS said in a report. The think tank maintained its GDP growth forecast for 2023 at 3% on healthy exports in the final quarter. Though K-Research has not made a forecast for 2024 growth, the centre projects expansion in a range of 3-4%, she said.

Source: Bangkok Post November 08, 2023 11:31 UTC