BANGKOK, 2 June 2012 – Thai consumer prices rose further in May while officials affirmed that the inflationary pressure looks set to ease in the near future.
Permanent Secretary for Commerce Yanyong Phuangrach said on Friday that Thailand’s Consumer Price Index (CPI) in May stood at 115.23, up 2.53 percent from the same month of last year and 0.39 percent from April.
The rise was induced by higher food and beverage prices and lower farm produce, which was caused by prolonged hot weather in the country, according to the Commerce Ministry’s data.
During the first 5 months of 2012, Thai CPI recorded an average increase of 3.03 percent.
Despite this, Mr. Yanyong said that, when compared with the current economic growth trend of Thailand, the latest CPI data is not of any worries as the overall situation is acceptable and shows stability.
In addition, the Core CPI in May stood at 108.15, up 1.95 percent year-on-year and 0.29 percent month-on-month. The country’s Core CPI during the months of January to May 2012 increased 2.46 percent on average.
The Permanent Secretary for Commerce stated that May inflation is actually representing an easing trend as produce prices have not risen significantly, when compared with the same period of last year.
He attributed the positive outlook to the sound and recovering conditions of the Thai economy, while maintaining this year’s inflation target at 3.3-3.8 percent.