Thai flood raises October inflation rate 4.19% year-on-year

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BANGKOK, Nov 1 – Thailand’s inflation rate in October rose to 113.07, a 4.19-per cent increase year-on-year due to Thailand’s flood problem, Yanyong Puangrach, permanent secretary for commerce said Tuesday.

Prices of eggs and vegetables rose 20.13 per cent and 12.7 per cent respectively as poultry and vegetable farms have been damaged by flood.

The food and drink price index increased 9.86 per cent. Meat, eggs, fruit and vegetables, ingredients and instant food rose 17.48 per cent.

Inflation from January to October stood at 3.79 per cent on average, said the permanent secretary.

Prices of other commodities increased 0.75 per cent. Construction materials, garments and shoes also rose.

The Commerce Ministry assessed that the flood problem will impact inflation by 0.38 per cent in the last quarter and inflation rate this year is likely to rise by 0.1 per cent to 3.8 per cent from an earlier projection of 3.2-3.7 per cent.

Flooding and post-flood rehabilitation remain risk factors as well as global economic problems and income losses, incurred from flood damage.

Regarding the shortage of some commodities, the commerce ministry has cooperated with the private sector to produce more and import some items.

More than one million bottles of drinking water have been carried from the provinces to the capital daily while two leading retailers have imported more than 5.4 million bottles so far.

The private sector and retailers imported 3.2 million eggs and 600,000 eggs respectively.  More than 300,000 packs of instant noodles have been imported and over 3.6 million cans of fish have been ordered and will be imported into the country in mid November.