BANGKOK, Sept 1 – The Ministry of Commerce projected the inflation rate would likely decline after recording the lowest in six months in August.
The inflation rate was at 2.09 per cent in August, showing its lowest in six months.
The Ministry believed inflation will move between 2 to 2.80 per cent throughout this year.
Commerce Ministry adviser Ampawan Pichalai said the consumer price index of Thailand stood at 107.67 in August.
Inflation declined for the third consecutive month and ran at its lowest pace in six months.
It rose by 2.09 per cent year-on-year and fell by 0.08 per cent compared with inflation in July this year.
This resulted from the falling prices of fresh foods, especially fresh vegetables and fruits that were supplied to markets in larger volume due to better weather conditions.
In addition meat prices also dropped due to more supplies. At the same time, local retail prices of oil declined in accordance with global market situations and the National Council for Peace and Order restructuring energy prices.
The factors limit inflation and make it stable and suitable.
Among 450 surveyed products, the prices of 159 items rose, those of 200 others remained the same and those of 91 items fell. In the first eight months of this year inflation rose by 2.21 per cent.
Ms Ampawan said a price-freezing policy and energy price restructuring should slow inflation in the second half of this year.
Inflation is expected to run at 2.15 per cent, down from 2.40 per cent, in the third quarter, and at 2.20 per cent, down from 2.50 per cent, in the fourth quarter.
This will result in an inflation rate of 2.21 per cent throughout this year instead of 2.35 per cent as earlier expected. However, the inflation will be within the range of 2 to 2.80 per cent as earlier anticipated.
