ID :
17704
Mon, 09/01/2008 - 19:56
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Shortlink :
https://oananews.org//node/17704
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Thailand`s Consumer Price Index drops sharply in August
BANGKOK, Sept 1 (TNA) – Thailand's consumer price index dropped sharply in August due to the continued decline in global oil prices and the six state-initiated relief measures to be applied for six months, according to Permanent Secretary for Commerce Siripol Yodmuangcharoen.
Mr. Siripol revealed that the general inflation rate in August fell by 3 per cent from the previous month and 6.4 per cent from the same month last year, while the average inflation rate in the first 8 months of this year grew 6.7 per cent.
The significant drop in the inflation rate stemmed from the continued
decline in the global oil prices to US$113 from $125 per barrel, the six measures for six months initiated by the government to ease living costs of the public, and the ministry's consistent supervision of the prices of consumer goods.
Mr. Siripol said the ministry had not yet revised its projection of the inflation rate at 5-5.5 per cent on the assumption that the baht stays at 32-33 per dollar and the oil price averages $105 per barrel, although the fuel price has remained at $113-115 on average and the baht currently at 34 per dollar.
Should the inflation rate average 6.5 per cent or up in the remaining four months of this year, he said, it is likely that inflation would stay at 6.5-6.9 per cent for the whole year.
Even so, the ministry would need to see whether the oil price and the
exchange rate would remain volatile before making a decision to revise the inflation projection at the end of the third quarter.
He conceded although inflation dropped in August, consumer prices in the food and beverage sector might increase seasonally.
So, the ministry would monitor inflation in September, especially because expressway fees and bus fares had increased.
However, he predicted that the average inflation rate in September would stay at 6.5 per cent or up.
Mr. Siripol also revealed the core inflation rate in August dropped by 0.9 per cent from the previous month, but increased by 2.7 per cent from the same month last year. The average inflation in the first eight months rose by 2.4 per cent.
Mr. Siripol revealed that the general inflation rate in August fell by 3 per cent from the previous month and 6.4 per cent from the same month last year, while the average inflation rate in the first 8 months of this year grew 6.7 per cent.
The significant drop in the inflation rate stemmed from the continued
decline in the global oil prices to US$113 from $125 per barrel, the six measures for six months initiated by the government to ease living costs of the public, and the ministry's consistent supervision of the prices of consumer goods.
Mr. Siripol said the ministry had not yet revised its projection of the inflation rate at 5-5.5 per cent on the assumption that the baht stays at 32-33 per dollar and the oil price averages $105 per barrel, although the fuel price has remained at $113-115 on average and the baht currently at 34 per dollar.
Should the inflation rate average 6.5 per cent or up in the remaining four months of this year, he said, it is likely that inflation would stay at 6.5-6.9 per cent for the whole year.
Even so, the ministry would need to see whether the oil price and the
exchange rate would remain volatile before making a decision to revise the inflation projection at the end of the third quarter.
He conceded although inflation dropped in August, consumer prices in the food and beverage sector might increase seasonally.
So, the ministry would monitor inflation in September, especially because expressway fees and bus fares had increased.
However, he predicted that the average inflation rate in September would stay at 6.5 per cent or up.
Mr. Siripol also revealed the core inflation rate in August dropped by 0.9 per cent from the previous month, but increased by 2.7 per cent from the same month last year. The average inflation in the first eight months rose by 2.4 per cent.
