Commerce Ministry expects 2014 inflation to remain within target after September’s 1.75% rise

0
304

BANGKOK, 1 October 2014 The Commerce Ministry reported that Thailand’s inflation rose at a slower pace in September while expressing confidence that consumer price index will not exceed its target this year.

Deputy Permanent Secretary for Commerce Amparwon Pichalai said on Wednesday that Thailand’s consumer price index was at 107.43 in September, up 1.75% from the same time of last year. September was the fourth consecutive month of declines in inflationary pressure.

Mrs. Amparwon said that the latest easing of inflation was caused by a decline in domestic fuel prices, which is in line with falling global energy prices, and lower meat product and egg prices due to higher supply and the annual vegetarian festival.

For the first eight months of 2014, the country’s headline inflation rose 2.15% on-year, Mrs. Amparwon added.

,br> She went on to say that this year’s inflation will rise around 2.14% , which is slightly lower than the previous estimate of 2.21% and still within the ministry’s target range of 2.0% and 2.8%.

The Commerce Ministry’s Deputy Permanent Secretary added that the government’s decision to raise LPG and NGV prices will only have a minimum impact on inflation but may temporarily cause some psychological effects to consumers.