2014 inflation projected at 2% to 2.8%

The consumer price index (CPI) for 2014 is expected to grow by between 2% and 2.8%, Srirat Ratthapana, permanent secretary for commerce, said on Thursday.

She said the prediction was based on the assumption the economy would grow by 3-5%, that average Dubai crude oil prices would stand at US$92-115 per barrel, the foreign exchange rate would be around 28-34 baht to the US dollar and the government’s policies to cut living costs would be continued.

General inflation for December stood at 106.01, up 0.14% on November and an increase of 1.67% on last December.

Core inflation for the month, which excludes food and energy, went up 0.10% on November and 0.91% on December 2012, to stand at 103.64. As a result, the average CPI for 2013 went up by 2.18% and core CPI by one percent.

Mrs Srirat said if the government revokes its policy to cut excise tax on diesel to 0.005 baht a litre, implemented last year, the pump price of diesel would increase and push up inflation by about another 1%.

If the government’s policy of free rides on some third-class trains is revoked, overall inflation next year would go up by another 0.18% and by another 0.11% if the free-travel on some public buses in Bangkok and its vicinity is ended, she said.

Share your thoughts

Discussion 1 : 17/02/2014 at 12:44 PM
The United States Department of Labor's recent consumer price index report was flat in January for the second month consecutively. It is the most recent indication that inflation is leveling off in the United States. A personal loan can help you pay for the extra costs you may be dealing with.
Discussion 2 : 02/01/2014 at 07:11 PM
That's a good point. Thailand always bought crude on the Asian spot market. Now Dubai prices? I wonder if somebody is earning some commission on the side.
Discussion 3 : 02/01/2014 at 06:39 PM
When did Thailand change from Singapore oil prices to Dubai oil prices? Not much of a mystery there...

Back to top

More From Bangkokpost.com