July inflation slows to 2.16%

July inflation slows to 2.16%

Inflation slowed in July to 2.16% year-on-year as the retail cost of fresh foods fell following the National Council for Peace and Order's moves to curb living costs.

Commerce Ministry adviser Ampawan Pichalai said the consumer price index for July stood at 107.70 points, or 0.08% lower than June but up 2.16% from July 2013. The June CPI rose 2.35%.

Core CPI, which deducted foods and energy prices, stood at 104.94 or up 1.81% y-o-y.

For the seven-month period this year, the CPI rose by 2.23% and the core CPI increased by 1.51%.

She said the July inflation rose at slower pace due to lower prices of fresh foods, particularly vegetables and fruits that were in harvest season. The energy price also declined in line with global market. The NCPO’s measures to control the living cost also contributed to lower inflation.

The ministry projects that inflation for 2014 will stay at 2.35%, which is lower thanthe  earlier projection of 2.4%.

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