Thailand International Political Economy

The Thailand economy continues to see deflationary pressure on consumer prices as the Thai CPI dropped 3.3 percent in May according to Bloomberg.

The fall in consumer prices make it the fifth consecutive decline since January and accounts for the longest contraction in the Thai economy in the last nine years.

Despite the deflationary Thai economic news, the Thailand government still expects to maintain their target of 0.5 percent inflation for the whole of 2009.