December inflation rises in line with product prices

Published on January 5, 2013 by TFP   ·   No Comments

BANGKOK, 2 January 2013 (NNT) â€" The Commerce Ministry has indicated that the consumer price index in December 2012 increased by 3.6% compared to the same period in the previous year, citing higher prices of fresh food and beverages as a contributing factor.




Director-General of the Department of Internal Trade Vatchari Vimooktayon revealed that the consumer price index or the inflation rate in December of 2012 was 3.6% higher than the rate of December 2011 and was also higher than November’s figure by 0.4%.




Furthermore, the Director-General said the rise of inflation at the end of 2012 has prompted the yearly rate to go higher than that of 2011 by 3.02%. In addition to higher oil prices, she pointed out that the soaring prices of food and beverages also greatly contributed to the rise of the index.




As for this year, the Ministry of Commerce has speculated that the inflation rate will remain between 2.8â€"3.4% on the conditions that the price of Dubai crude oil is between 100-120 US dollars per barrel and the Thai baht remains at 28.5-32.5 against the greenback.




Mrs. Vatchari stressed the need for the government to maintain the cost of living for Thai households in order to keep the inflation stable. She also insisted that the nationwide implementation of the 300-baht minimum wage policy will have little impact on the consumer price index.

(NNT: Nuppol Suvansombut)

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Article source: http://www.thethailandlinks.com/2013/01/06/december-inflation-rises-in-line-with-product-prices/