2011 inflation not more than 3.7%

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BANGKOK, 29 July 2011 – The national inflation throughout 2011 is anticipated to move around 3.2-3.7%, and the estimated rise is attributed to the energy price fluctuation and current global economic condition, according to the Ministry of Commerce.

Permanent Secretary for Commerce Yanyong Puangrach asked entrepreneurs not to be worried about the 300-baht minimum wage measure and the rice mortgage scheme of the new government as it is still unclear when the policies will really be implemented.

Mr Yanyong forecasted that the government is likely to carry out the measures by the end of this year or at the beginning of 2012.

As a result, the Commerce Ministry expects the inflation rate not to exceed 3.7% this year while the figure for the previous quarters is concluded at 3.5-3.6% on average.

Mr Yanyong pointed out that the inflation rise within the country is not caused by entrepreneurs’ demand for price adjustment, but is directly resulted from the current energy price fluctuation and the global economy, particularly the rising foreign capital inflow into Asian countries for the time being.

Nevertheless, the permanent secretary noted that the overall inflation of the country this year is not a cause for worry.