Ministry optimistic about inflation
The Commerce Ministry remains confident that inflation this year will not exceed its target of 3.7%, thanks to reasonable global oil prices and lower local purchasing power due to the floods.
Permanent secretary Yanyong Phuangrach said the inflation rate in October should be over 4% higher than last year as the floods pushed up the price of fresh vegetables and fruit via crop damage and higher transportation costs.
But month-to-month inflation should contract in November and December as floods cut the purchasing power of middle to lower-income earners in many provinces and food prices even out between flood-hit and dry areas.
Oil is still in the ministry’s predicted range of US$78-88 per barrel as well as the exchange rate between 28 to 33 baht per dollar.
The ministry has tried to reduce the burden of living costs by…
Full story from Bangkok Post at http://goo.gl/Gaauu
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Sunday, 9 March 2014
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