Thailand’s July inflation rate 2% higher

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BANGKOK, Aug 2 – Thailand’s inflation in July was 105.42, a 2 per cent increase year-on-year, according to permanent secretary for commerce Vatchari Vimooktayon.

She said the inflation was slightly down from June, which was up by 2.25 per cent and pressure on inflation has lessened given six consecutive months of slowdown, while prices of fresh foods were on the decline.

The price index of food and non-alcohol beverage sector was 2.81 per cent higher due to increased prices of vegetables and fruit by 4.43 per cent, as well as eggs and milk by 4.41 per cent while retail prices of fuel have not been adjusted.

The prices of 158 items of merchandise were higher, 93 items lower and 100 items unchanged, contributing to an average inflation at 2.60 in the first seven months of the year which was lower than predicted.

The overall inflation may be 2.80-3.40 per cent lower than forecast in accord with the economic slowdown.

Ms Vatchari said the gradual increase of liquefied petroleum gas by 50 satang per kg from September until the end of the year will affect inflation by only 0.006 per cent per month,

She called on the public to be more careful in their spending despite a belief that most traders will not increase the prices of their goods.