Commerce Ministry: CPI in July increased by 2.16%

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BANGKOK, 2 Aug 2014- Consumer Price Index (CPI) in July increased by 2.16% on-year, standing at 107.7, says the Commerce Ministry, while expecting this year’s inflation rate at 2.35%, slightly decreasing from last month’s. 

According to the Trade Policy and Strategy Office, the average 7-month CPI rate, from January to July, increased by 2.23%, while indicating that the annual inflation rate would remain in the range of the Ministry’s earlier prediction of 2.0% – 2.8%.

The office explained further that the decrease in inflation figures is the result of fuel price drop, the less-severe-than-expected drought situation in the nation, and the more stable living expenses, thanks to the Council’s “return the happiness to the people” campaign.

It also clarified that the third and fourth quarters’ inflation figures should be 2.4% and 2.5% respectively, resulting in the latter half’s rate of 2.45%, thus leading to the conclusion that the annual inflation rate would be 2.35%.