BOT says Thailand’s inflation rate of 9.2% lower than expected

August 1st, 2008 - 3:58 pm ICT by Amrit Rashmisrisethi  

The Senior Director of Domestic Economy to the Bank of Thailand, Mrs. Amara Sripayak (อมรา ศรีพยัคฆ์), said that Thailand’s inflation rate of 9.2 percent was lower than expected.

Mrs. Amara said that although Thailand’s 9.2 percent inflation rate announced by the Ministry of Commerce today (August 1) are the highest ever recorded in 10 years, they are still lower than estimations made by the Bank of Thailand. The senior director attributed the inflation overestimation to oil price variables which were lower than expected.

The Bank of Thailand estimated that Dubai Crude Oil would rise to 135 dollars per barrel, but were proved wrong when prices only reached 120 dollars per barrel. The senior director affirms that the lower than expected rates are positive indicators for the nation.

Source : National News Bureau, Public Relations Department of Thailand

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