NONTHABURI, April 5 (TNA) – Inflation ran at 5.73% in March, the highest in 13 years, because the Russia-Ukraine war is raising energy prices, according to the Trade Policy and Strategy Office.
TPSO director-general Ronnarong Phoolpipat said headline inflation in March ran at 5.73% year-on-year mainly because the prices of products and services rose according to their higher costs. They included the prices of energy and imported raw materials as well as transport fees.
A reason was sanctions from the United States and its allies against Russia which affected worldwide economies, especially developing countries that felt heavy impacts on their fragile economies, Mr Ronnarong said.
However, he said that the prices of fresh food rose slightly from last year.
The Commerce Ministry predicted that inflation would run at 4.0-5.0% this year on the conditions that the Dubai crude oil is priced at US$90-100 per barrel, the exchange rate is at 32-34 baht per US dollar and the Thai economic growth rate is at 3.5-4.5%.
If inflation is at 4-5% throughout this year, it will be the highest in 13 years, Mr Ronnarong said. He warned against any interventions to reduce inflation because, he said, it resulted mainly from external factors. (TNA)
