Thailand consumer prices have decreased for the seventh consecutive month.

Last month, due to subsidies as well as a decrease in food and fuel prices, prices in Thailand fell again, marking the longest period of decline since the pandemic began. The Thai Commerce Ministry stated on Wednesday that the consumer price index in October decreased by 0.76% compared to the same period last year, marking the seventh consecutive month of decline. This decline was lower than the average expectations of economists surveyed. On a monthly basis, the index dropped by 0.11%, also slightly below expectations. While officials from the Commerce Ministry stated that Thailand's economy has not experienced deflation, the report released on Wednesday highlighted the risks of weak domestic demand and the continued general decrease in prices of goods and services. Continued price declines may harm production and employment, leading to economic stagnation. It is expected that Thailand's GDP in the third quarter will decrease compared to the previous three quarters.