ID :
148285
Mon, 11/01/2010 - 18:51
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http://m.oananews.org//node/148285
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Thai inflation up 2.8% in October: Commerce Ministry
BANGKOK, Nov 1 – Thailand’s inflation rate rose by 2.8 per cent year-on-year in October, fuelled by an increase in the indices in the food and beverage, rice and flour, and meat categories, Permanent Secretary for Commerce Yanyong Puangrach said on Monday.
The Consumer Price Index (CPI) figure in October was mainly driven by a 5.5 increase in food and beverage products, 11.2 per cent rise in the rice and flour index and a 3.7 per cent growth in the meat category.
Meanwhile, the CPI in the first ten months of 2010 (January-October) climbed by 3.4 per cent, compared to the same period last year, thanks to a surge in fuel prices of 16.2 per cent, higher prices of piped water by 45.3 per cent and electricity by 1.3 per cent respectively.
October’s consumer price index, however, fell by 0.03 per cent compared to September resulting from higher prices of products and services, Mr Yangyong explained. The Core Consumer Price (CCP) Index inched up by 0.11 per cent in October compared to the previous month while increasing by 1.1 per cent year-on-year.
Regarding the ongoing floods in several provinces, the permanent secretary for commerce said the inundation would unlikely have a major impact on the country’s inflation rate as October
is a time when several kinds of agricultural produce are released.
However, he added the price of fresh produce was expected to increase in November due to the effect of the floods.
Currently, the inflation rate in the last two months of this year, November and December, was projected to grow over 3 per cent.
As a result, the ministry still maintained its projection of the 2010 inflation rate at around 3-3.5 per cent as earlier targeted.
In another related development, the ministry has forecast that 2011 Thai inflation will stay around 3.2-3.7 per cent based on the assumption that crude oil stays at US$78-88 per barrel and the baht is around 28-33 against the dollar. The deputy also added that the currency exchange rate now was quite stable and the government’s measures helping low-income earners will continue.
Apart from the government’s plans to aid flood-impacted people, the ministry had announced its own measures to rehabilitate flood victims as well, Mr Yanyong said.
The commerce ministry’s three main measures are to provide farming equipment at lower prices for farmers, aiming at cutting capital cost, to organise more Blue Flag Fairs to sell products at low prices in Bangkok and other flooded provinces.
The private sector will also be invited to sell their goods. (MCOT online news)
The Consumer Price Index (CPI) figure in October was mainly driven by a 5.5 increase in food and beverage products, 11.2 per cent rise in the rice and flour index and a 3.7 per cent growth in the meat category.
Meanwhile, the CPI in the first ten months of 2010 (January-October) climbed by 3.4 per cent, compared to the same period last year, thanks to a surge in fuel prices of 16.2 per cent, higher prices of piped water by 45.3 per cent and electricity by 1.3 per cent respectively.
October’s consumer price index, however, fell by 0.03 per cent compared to September resulting from higher prices of products and services, Mr Yangyong explained. The Core Consumer Price (CCP) Index inched up by 0.11 per cent in October compared to the previous month while increasing by 1.1 per cent year-on-year.
Regarding the ongoing floods in several provinces, the permanent secretary for commerce said the inundation would unlikely have a major impact on the country’s inflation rate as October
is a time when several kinds of agricultural produce are released.
However, he added the price of fresh produce was expected to increase in November due to the effect of the floods.
Currently, the inflation rate in the last two months of this year, November and December, was projected to grow over 3 per cent.
As a result, the ministry still maintained its projection of the 2010 inflation rate at around 3-3.5 per cent as earlier targeted.
In another related development, the ministry has forecast that 2011 Thai inflation will stay around 3.2-3.7 per cent based on the assumption that crude oil stays at US$78-88 per barrel and the baht is around 28-33 against the dollar. The deputy also added that the currency exchange rate now was quite stable and the government’s measures helping low-income earners will continue.
Apart from the government’s plans to aid flood-impacted people, the ministry had announced its own measures to rehabilitate flood victims as well, Mr Yanyong said.
The commerce ministry’s three main measures are to provide farming equipment at lower prices for farmers, aiming at cutting capital cost, to organise more Blue Flag Fairs to sell products at low prices in Bangkok and other flooded provinces.
The private sector will also be invited to sell their goods. (MCOT online news)
