Thailand's inflation in October 2011 surges due to flooding

BANGKOK, November 1 (TNA) - The Thai Ministry of Commerce reported on Tuesday that the country's consumer price index (CPI), the gauge of inflation, stood at 113.07, a 4.19 per cent year-on-year surge, due to impacts from the ongoing flooding crisis. Permanent Secretary for Commerce Yanyong Puangraj acknowledged that the country's vast flooding since late July has resulted in soaring prices of food and drinks by some 9.86 per cent year-on-year as of last month, particularly those of ready-to-eat food by 17.48 per cent, chicken eggs by 20.13 per cent and fresh vegetables by 12.7 per cent; while the prices of non-food and drinks products have increased by some 0.75 per cent year-on-year, with those of construction materials, clothes, food wares and medical services having risen most. According to the senior Commerce Ministry official, Thailand's inflation during the first 10 months of this year, therefore, stood at 3.79 per cent year-on-year and is expected to reach some 3.8 per cent year-on-year on average this year, an increase from his ministry's earlier target, at about 3.2-3.7 per cent. The senior official noted that his ministry has liaised with the local private sector to address the emerging problem of shortages of food products and fresh drinking water, including imports of the products from neighbouring countries. (TNA)