BANGKOK – The inflation rate in April 2016 increased for the first time in 16 months to 106.47 due to increasing prices of meat and fresh vegetables.
The Ministry of Commerce on Monday reported that the April inflation rate was a 0.07% increase following the agricultural product price hike. The price increase was a result of drought and rising fuel price in the global market.
The minitry will consider adjusting this year’s average inflation rate after sees May’s inflation rate. It earlier forecast that the 2016 average inflation rate will be around 0% – 1%.
Agricultural product prices are expected to drop after the rainy season arrives.
Agricultural products whose prices have increased include pork, white shrimps and eggs. However, prices of milled rice, milk and instant noodles have dropped.
