Inflation was down 1.27% in May year-on-year, falling to its lowest point for more than five years, the Commerce Ministry said Tuesday.
Commerce inspector-general Somkiat Triratpan said inflation in May stood at 106.53, falling by 1.27% year-on-year. Inflation declined for the fifth month in a row to the lowest in five years and eight months.
Month-on-month, inflation was up 0.17% on April. In the first five months of this year (January to May) inflation decreased by 0.77%, he said.
Mr Somkiat said the consumer price index in the food and non-alcoholic beverage group rose by 0.11% and in other segments fell by 2.00% year-on-year.
He attributed declining inflation to lower retail prices of oil and lower electricity charges.
Mr Somkiat expected inflation in the second quarter of this year would fall by about 1.1% but was likely to rise in the second half of this year in accordance with expectations the global oil price would rise then due to higher demand in the northern winter.
The Commerce Ministry predicts inflation will run at 0.6-1.3% throughout this year.