ID :
210915
Mon, 10/03/2011 - 14:50
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Shortlink :
http://m.oananews.org//node/210915
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Thailand's 2011 inflation rises by over 3% in first nine months
BANGKOK, October 3 (TNA) - The Thai Ministry of Commerce reported on Monday that the country's consumer price index (CPI), the main gauge of inflation, during the first nine months of 2011 rose by 3.75 per cent year-on-year.
Thai Permanent Secretary for Commerce Yanyong Puangraj said that the country's CPI in September 2011 alone increased by 4.03 per cent year-on-year, but edged down by 0.33 per cent, to 112.86, from a month earlier, the first time in 11 months, thanks to the government's measures to relieve people's costs of living namely reduced fuel prices and transport fares, as well as controllable prices of food and other consumer products.
Yanyong warned, however, that there are three major risk factors probably driving up the country's inflation in the coming months, including a temporary suspension of levies imposed on diesel, as well as regular and premium gasoline or benzene 91 and benzene 95 for the state oil fund, the strengthening Thai baht and the Bank of Thailand (BOT)'s expected decision on keeping its key interest rate unchanged at its Monetary Policy Committee (MPC)'s forthcoming meeting on October 19.
The senior Commerce Ministry official acknowledged that the new Thai government's policies on raising the country's daily minimum wage to 300 baht and monthly revenues for new graduates to 15,000 baht, as well as the rice mortgage scheme with increasing rice prices are unlikely to boost inflation in the short term; while rising prices of agricultural products due to severe floods in several Thai provinces should shore up the country's CPI by only 1.4 per cent, and that the ongoing debt crisis in Europe and the United States should lead to a drop in oil and raw materials prices and to stable consumer products prices on the domestic market, relaxing any inflation pressure. (TNA)
Thai Permanent Secretary for Commerce Yanyong Puangraj said that the country's CPI in September 2011 alone increased by 4.03 per cent year-on-year, but edged down by 0.33 per cent, to 112.86, from a month earlier, the first time in 11 months, thanks to the government's measures to relieve people's costs of living namely reduced fuel prices and transport fares, as well as controllable prices of food and other consumer products.
Yanyong warned, however, that there are three major risk factors probably driving up the country's inflation in the coming months, including a temporary suspension of levies imposed on diesel, as well as regular and premium gasoline or benzene 91 and benzene 95 for the state oil fund, the strengthening Thai baht and the Bank of Thailand (BOT)'s expected decision on keeping its key interest rate unchanged at its Monetary Policy Committee (MPC)'s forthcoming meeting on October 19.
The senior Commerce Ministry official acknowledged that the new Thai government's policies on raising the country's daily minimum wage to 300 baht and monthly revenues for new graduates to 15,000 baht, as well as the rice mortgage scheme with increasing rice prices are unlikely to boost inflation in the short term; while rising prices of agricultural products due to severe floods in several Thai provinces should shore up the country's CPI by only 1.4 per cent, and that the ongoing debt crisis in Europe and the United States should lead to a drop in oil and raw materials prices and to stable consumer products prices on the domestic market, relaxing any inflation pressure. (TNA)
