Illustrative image (Source: https://www.thailand-business-news.com/ 

Bangkok (VNA) Thailand’s consumer price index (CPI) fell by 1.57 percent in June from a year earlier, the country’s Ministry of Commerce announced on July 3.

Director-General of the ministry’s Trade Policy and Strategy Office Pimchanok Vonkorpon said that the fall is lower than expectations and improves compared to the 3.44 percent decline in May.

She attributed the fall to decreases of 2.53 percent in non-food prices and 16.14 percent in fuel prices.

She added that the CPI witnessed a year-on-year reduction of 1.13 percent in the first half of 2020.

Inflation is likely to be negative every month in the second half due in part to last year’s high comparative figures, Pimchanok stated, adding that the main factor pressuring inflation is the tourism sector because there will not be many foreign tourists coming to Thailand due to the COVID-19 pandemic.

The Ministry of Tourism and Sports predicted that the Southeast Asian nation may welcome only 9 million foreign visitors this year, a significant drop compared to the record number of 39.8 million in 2019./.

VNA