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135925
Tue, 08/03/2010 - 08:49
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http://m.oananews.org//node/135925
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Inflation rises in July for 10th consecutive month
BANGKOK, Aug 3 – The general inflation rate in July rose for the 10th consecutive month by 3.4 per cent year on year, fuelled by an increase in indexes in the food and beverage, rice and flour, and meat categories, according to the commerce ministry.
Permanent Secretary for Commerce Yanyong Puangrach on Monday said the inflation rate in the first seven months of this year climbed up by 3.5 per cent from the same period last year, boosted a surge in fuel prices by 23.3 per cent, pipe water prices by 46.5 per cent and power bills by 1.8 per cent.
The inflation rate edged up by only 0.16 per cent from the month before due to a slower increase in product and service prices.
He said the core inflation rate rose by 0.4 per cent from June and by 1.2 per cent from the same month the year before.
Mr Yanyong said the ministry still maintained its projection of the inflation rate this year at 3-3.5 per cent since it expected prices of consumer products would not rise due to the government's request that entrepreneurs not raise product prices until the end of September.
Also, he said, producers frequently compete to reduce the prices of their products at the end of every year, so it is likely that overall prices will not increase.
Under the circumstances, Mr Yanyong observed, it is unnecessary for the ministry to call on the entrepreneurs to further peg product prices. However, the ministry will closely monitor prices.
Given these factors, it is forecast the inflation rate in the third and fourth quarters would average 3.4 per cent as expected earlier. (MCOT online news)
Permanent Secretary for Commerce Yanyong Puangrach on Monday said the inflation rate in the first seven months of this year climbed up by 3.5 per cent from the same period last year, boosted a surge in fuel prices by 23.3 per cent, pipe water prices by 46.5 per cent and power bills by 1.8 per cent.
The inflation rate edged up by only 0.16 per cent from the month before due to a slower increase in product and service prices.
He said the core inflation rate rose by 0.4 per cent from June and by 1.2 per cent from the same month the year before.
Mr Yanyong said the ministry still maintained its projection of the inflation rate this year at 3-3.5 per cent since it expected prices of consumer products would not rise due to the government's request that entrepreneurs not raise product prices until the end of September.
Also, he said, producers frequently compete to reduce the prices of their products at the end of every year, so it is likely that overall prices will not increase.
Under the circumstances, Mr Yanyong observed, it is unnecessary for the ministry to call on the entrepreneurs to further peg product prices. However, the ministry will closely monitor prices.
Given these factors, it is forecast the inflation rate in the third and fourth quarters would average 3.4 per cent as expected earlier. (MCOT online news)
