MOC affirms government’s 6 new policies will alleviate inflation

August 1st, 2008 - 2:51 pm ICT by Amrit Rashmisrisethi  

The Ministry of Commerce affirms that Thailand’s annual inflation rate will remain stable at 5.5 percent despite reaching a ten year record high in July.

The Deputy Permanent Secretary of Commerce, Mrs. Pairoa Sudsawarng (ไพเราะ สุดสว่าง), revealed that Thailand’s general consumer inflation for increased by 0.3 percent fromy June to July, and increased by 9.2 percent when compared to the same period in 2007. Inflation rates increased by 6.6 percent during the first seven months of 2008, marking the highest recorded inflation in the country in a decade since June 1997.

The Food and Beverage Index and the Non-Consumable Index increased by 0.3 and 0.4 percent, respectively. The Deputy Permanent Secretary of Commerce attributed the inflation to the increase in global oil prices, raw material prices, and transportation costs. Mrs. Pairoa affirms that her ministry will maintain Thailand’s annual inflation rate at 5.5 percent. She expresses confidence that the government\’s six new economic and fiscal policies will serve to alleviate inflation.

Source : National News Bureau, Public Relations Department of Thailand

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