Inflation target for 2015 to be lowered, due to impact of lower oil prices
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Amid the continued decline in inflation for seven consecutive months, the Commerce Ministry will revise down its annualised inflation target to lower than 0.61.3 per cent - despite the weakening baht - due to the low oil price.
The ministry reported that the Consumer Price Index (CPI) continued weakening in July by 1.05 per cent year on year. Month-on-month inflation was down by 0.07 per cent, the first contraction in six months due to lower oil price. The CPI for the first seven months was 0.85 per cent lower than in the same period last year.
