BANGKOK, 3 Sep 2013 Permanent Secretary of the Commerce Ministry Watchari Vimuktayon revealed that the inflation index last month increased by 1.59%, citing the Middle East political turmoil which have affected global energy prices as the main reason.
According to Ms. Watchari, Thailand’s inflation index in August stood at 105.41, an increase of 1.59% from the same period last year, but a 0.01% decrease from July. She added the average inflation rate from January to August of this year recorded an increase of 2.47% compared to the same period of 2012.
She attributed the slight decrease in inflation rate from July to price dropping in certain fuel products as well as prices of goods and services. However, she indicated that prices of various commodity goods, mostly soft drinks and food, received small price boosts. The Permanent Secretary clarified that the prices of non alcoholic drink increased by 0.16% while poultry and seafood increased by 1.32 percent. She also said that prices of eggs and dairy products surged 0.96 percent and ready-cook-meal had a smaller jump of 0.19%.
Ms. Watchari said that prices of other items that are not food and drinks had adjusted down by 0.1 percent. Nonetheless, the Commerce Ministry would probably readjust its inflation projection from the previous 2.8-3.4%, adding that it would keep a close watch on the situation in the Middle East as it plays a major role in determining global energy prices.