BANGKOK, 2 July 2013 The Commerce Ministry reveals that the inflation rate in June grew at the lowest rate in 43 months as prices of goods dropped, while the inflation for the whole year is expected in the range of 2.8-3.4 percent.
According to Permanent Secretary for Commerce Vatchari Vimooktayon, the inflation rate in June 2013 was at 105.31, representing an increase of 2.25 percent compared to the same period last year. However, the 2.25 percent rise was the lowest rate in 43 months.
The permanent secretary attributed the low inflation growth to a strict policy of the Commerce Ministry which had been closely monitoring good prices. Furthermore, she said, the country has entered the rainy season which is time for agricultural surplus, leading to lower prices of fruits and vegetables.
She further revealed that oil price also decreased to 100 US dollars per barrel in June, causing prices of other products to drop as oil is the main determiner in the production cost.
Despite the fact that the inflation did not rise to the ministry’s expected level, Miss Vatchari said the ministry would still remain its inflation target at 2.8-3.4 percent to be in accord with the expected rise of liquefied petroleum gas price and toll way fees.