The University of the Thai Chamber of Commerce (UTCC) has predicted retail prices of basic goods will remain stable for the rest of the year, with no increases expected.
Thanawat Polvichai, director of the Economic and Business Forecasting Centre at the UTTC, said on Friday that even though the Commerce Ministry is no longer asking the private sector to control prices, other state measures are helping keep prices in check, such as the diesel excise exemption, at a time of sluggish export growth.
Mr Thanawat said he was confident this year’s inflation rate will be between 3.0 and 3.4%.
The Bank of Thailand should not raise the key interest rate because it would exacerbate inflation. global economy recovery is expected next year, which would raise oil prices, he said.