ID :
98140
Mon, 01/04/2010 - 19:10
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http://m.oananews.org//node/98140
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Inflation rises 3.5 per cent in December, year-on-year
BANGKOK, Jan 4 (TNA) – Thailand’s consumer price index (CPI) rose 3.5 per cent in December, compared to the corresponding period in the previous year, Permanent Secretary for Commerce Yanyong Phuangrach announced on Monday.
It was the third consecutive month rise of the CPI, thanks to a 2.2 per cent increase of food and beverage prices.
The CPI in December dropped 0.1 per cent, compared to the previous month, owing to a drop in retail oil prices and some consumer goods.
The index in 2009 fell 0.9 per cent year-on-year due to the economic slump and the sharp decline in oil prices in the first half of the year.
The government’s measures to reduce the cost of living to help low income earners and the 15-year free education programme also caused negative inflation.
The ministry projected that inflation in 2010 would rise between 3.0-3.5 per cent based on the assumption that crude oil prices stay around US$70-80 per barrel on average and the Thai baht is around 31-32 against the US dollar while the government will further extend five measures to cut the cost of living to help low income earners for a period of time.
Commerce Minister Pornthiva Nakasai on Tuesday will seek a budget of Bt300 million to finance the “Blue Flag, Low Price” 2010 campaign from the Cabinet, to help reduce the cost of consumer goods for sale at lower prices than the market.
The ministry will closely monitor commodity prices. Higher global oil prices are likely to increase production cost in terms of transportation and signal prices of construction goods will soon increase, Mr Yanyong said.
However, he said it is not likely to hit the capped prices imposed by the Internal Trade Department, he said. (TNA)
It was the third consecutive month rise of the CPI, thanks to a 2.2 per cent increase of food and beverage prices.
The CPI in December dropped 0.1 per cent, compared to the previous month, owing to a drop in retail oil prices and some consumer goods.
The index in 2009 fell 0.9 per cent year-on-year due to the economic slump and the sharp decline in oil prices in the first half of the year.
The government’s measures to reduce the cost of living to help low income earners and the 15-year free education programme also caused negative inflation.
The ministry projected that inflation in 2010 would rise between 3.0-3.5 per cent based on the assumption that crude oil prices stay around US$70-80 per barrel on average and the Thai baht is around 31-32 against the US dollar while the government will further extend five measures to cut the cost of living to help low income earners for a period of time.
Commerce Minister Pornthiva Nakasai on Tuesday will seek a budget of Bt300 million to finance the “Blue Flag, Low Price” 2010 campaign from the Cabinet, to help reduce the cost of consumer goods for sale at lower prices than the market.
The ministry will closely monitor commodity prices. Higher global oil prices are likely to increase production cost in terms of transportation and signal prices of construction goods will soon increase, Mr Yanyong said.
However, he said it is not likely to hit the capped prices imposed by the Internal Trade Department, he said. (TNA)
