BANGKOK, July 1 (TNA) – Inflation ran slower at 0.87%
year-on-year in June due to declining oil prices and its rate should be 1%
throughout this year, according to the Commerce Ministry.
Pimchanok Vornkorporn, Director-General of the ministry’s
Trade Policy and Strategy Office, said the Commerce Ministry revised its
inflation forecast to the range of 0.7-1.3%, or an average of 1%, for this
year, downwards from an average of 1.2%, as many organizations predicted the
slower growth of the national economy.
The inflation in June reflected the prices of fresh food,
especially vegetables and fruits, as well as the prices of rice and pork.
Inflation slowed down for the third consecutive month as energy prices declined
for two months in a row this year, she said.
Miss Pimchanok assured that Thailand had not entered into
deflation because manufacturers were generating income and the prices of many
farm products were rising, including those of rice, raw palm nuts and natural
rubber.
The economy would improve after the formation of the new
government, she said. (TNA)
