Inflation was up for the 5th consecutive month in December

Nonthaburi, Jan 3 (TNA) – Inflation went up 0.78% in December last year, showing its increase for the 5th consecutive month and resulting in 2017 inflation running at 0.66%, the Commerce Ministry said. Pimchanok Vonkorporn, director of the ministry’s Trade Policy and Strategy Office, said that consumer prices climbed up slightly and purchasing power remained stable in 2017, showing a positive sign for the Thai economy. According to her, the inflation rate reflected the rising prices of fuel, non-alcoholic beverages, non-food consumer products, vehicles, educational and tourism-related services, and construction. The prices of fresh foods declined significantly throughout the year. The Commerce Ministry predicts that inflation will run at 0.6-1.6% in 2018, or close to 1% as the government expects on the condition that the Thai economy grows by 3-4%, the Dubai crude is priced at US$50-60 a barrel and the foreign exchange rate is at 33-35 baht per US dollar. (TNA)