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The Commerce Ministry now foresees inflation in Thailand coming in at between 1.5 and 2.2 per cent this year, slightly higher than the previous expectation of 1.5-2 per cent, because of higher global oil prices.
The ministry reported yesterday that the Consumer Price Index in March increased by 0.76 per cent year on year while declining slightly, by 0.46 per cent, compared with February.
The year-on-year increase was due mainly to the price of crude oil being 13.7 per cent higher than in March 2016, as well as price rises for some foods.
However, domestic fuel prices decreased by 3.2 per cent in March compared with February, resulting in lower month-on-month inflation.
“Inflation could increase continuously this year as stronger economic growth is expected, while oil prices will climb and the baht will continue its depreciation,” said Pimchanok Vonkorpon, director of the ministry’s Trade Policy and Strategy Office.
With expected stronger oil prices, the inflation rate will be slightly higher than previously predicted, she said.
The ministry’s inflation outlook for 2017 assumes the price of Dubai oil being in a range of US$50-$60 per barrel and Thai economic growth of 3-4 per cent, while the baht is expected to average 35.5-37.5 against the US dollar.
Last month, the food and beverage price index was up 0.68 per cent year on year, while the non-food index headed up 0.83 per cent.
Core inflation, which excludes volatile fuel and food prices, was 0.62 per cent year on year, and 0.04 per cent month on month. – The Nation 

CPF EXPANDS EXPORT CHANNELS TO EU 

CPF Investment Ltd, a wholly owned subsidiary of Charoen Pokphand Foods, has signed a share-purchase agreement with Westbridge Food Group Ltd with an approximate combined value of 60 million pounds sterling, or about Bt2.6 billion.
WFGL is a UK-based company whose expertise lies in the sale of meat and ready-made products to retailers, food services, and food producers in Britain and the European Union. The company also engages in the development, sourcing and supply of products across many food groups on a worldwide basis.
WFGL has investments in 117 companies in the UK and 16 in the Netherlands, which are licensed to import of poultry products to the EU. 
In addition, WFGL also has one repackaging factory in England. 
Adirek Sripratak, chairman of the executive committee of CPF, said the investment in WFGL would allow CPF to expand its distribution network for retail, food services and food producers in Britain and EU countries that have high potential. 
Most of WFGL’s markets are new to CPF. WFGL’s products mainly involve chicken, shrimp, fish and processed foods, which are in line with CPF’s products. 
In addition, CPF will be licensed to import chicken products to the EU, since WFGL has more than 100 subsidiaries with import quotas. It also has experience in food-business management.