The consumer price index in January 2015 fell for the first time in five years to 106.2 points, dropping 0.41% year-on-year and 0.59% from December.
Somkiat Triratpan, inspector-general of the Ministry of Commerce, said on Monday the CPI fell for the first time in five years and four months.
Prices of consumer products, excluding food and alcohol-free beverages, dropped by 0.83% from December and by 1.86% year-on-year to 102.21, while the prices of food and alcohol-free beverages dropped 0.14% from December, but rose 2.34% year-on-year to stand at 113.03.
In January retail oil prices, electricity charges and prices of some high-demand meat, fruit and vegetables decreased.
The ministry predicts inflation will range from 1.8 to 2.5% throughout this year. It will review annual inflation in March as oil prices might not decline any further and may return to their normal levels afterwards.