Thai inflation rises slightly in January

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BANGKOK, Feb 3 – Thailand’s Consumer-Price Index (CPI) rose slightly in January, while the inflation rate will likely average 2-2.8 per cent this year, a senior Commerce Ministry’s official said today.

Commerce Ministry Deputy Permanent-Secretary Urawee Ngowroongrueng said Thailand’s consumer-price index or inflation rate in January rose 1.93 per cent, its lowest in three years. The slight increase was due to an economic slowdown in the last quarter of 2013.

Ms Urawee brushed aside concerns over possible deflation. She said higher gas and electricity prices have affected inflation as well as food price and price of non-alcoholic beverage which have increased 3.62 per cent. The country also sees a rise in meat price at 8 per cent and 5 per cent for dairy products, while prices for other types of food and beverages have also risen by 1.07 per cent.

Annual inflation, meanwhile, is projected to be within the range of 2 and 2.8 per cent, based on  3-5 per cent growth projection this year and that the government maintains its policies to ease rising cost of living.

Studies say the price of 202 products have increased, prices have not risen in 190 products, while prices of the remaining 58 products have dropped.