Commerce Ministry maintains 0.6-1.3% inflation target
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Despite inflation dipping into negative territory for the six past months, the Commerce Ministry is leaving its inflation target for this year at 0.6-1.3 per cent in anticipation of oil prices recovering in the final quarter.
“Annualised inflation should be back to positive growth,” Somkiat Triratpan, inspector-general of the ministry and director of its Policies and Trade Strategies Bureau, said Wednesday.
The ministry reported that the Consumer Price Index continued weakening in June by 1.07 per cent year on year. Month-on-month inflation was up slightly by 0.10 per cent from the firming in domestic oil prices. The CPI for the first half was lower by 0.81 per cent than the same half last year.
