Inflation up 0.17% in July

Inflation up 0.17% in July

Inflation rose 0.17% year-on-year in July after two consecutive months of contraction, due to higher prices except those of foods and beverages.

Pimchanok Vonkorpon, director-general of the Commerce Ministry's Policies and Trade Strategies Bureau, said on Tuesday that the consumer price index in July was at 100.53, down 0.13% from June.

Compared to the same month last year, the prices, except those of foods and beverages, rose by 0.57%. They included the prices of oil and house rents.

The prices of food and non-alcoholic drinks were 0.55% lower as the prices of meat, fruits and vegetables increased seasonally.

Core inflation, excluding fresh foods and energy, stood at 101.30, up 0.48% year-on-year and 0.08% higher from the previous month.

In the first seven months of this year, inflation ran at 0.60% year-on-year with core inflation edging up by 0.55%.

Miss Pimchanok said inflation would continue to rise for the rest of the year as oil prices would be stable, electricity fees would rise and the prices of learning equipment would climb due to the opening of a new school term.

The Commerce Ministry predicted inflation would range between 0.7% and 1.7% this year provided the economy expand by 3-4%, she said.

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