Wednesday July 1, 2:41 PM
Thai inflation in June contracts by 4 pct: govt
Thailand's headline inflation contracted by 4.0 percent in June, the sixth consecutive month to see a drop, the commerce ministry has said.
The year-on-year contraction was also the steepest monthly drop this year, the ministry said, but the Consumer Price Index (CPI) for June rose slightly by 0.4 percent from May because of increasing oil prices.
The ministry said the inflation drop in June was owing to a drastic 17.4 percent fall in transportation prices, as well as a 0.4 percent drop in prices in the communication and food sectors.
The core inflation figure, based on a survey of 300 items excluding food and energy, fell 1.0 percent in June year-on-year.
In the first six months of 2009, headline inflation contracted by 1.6 percent overall because of lower oil, textile and utilities prices compared with 2008.
The commerce ministry said it expects inflation for the whole of 2009 to be in a zero to 0.5 percent range, despite a decline of 1.6 percent in consumer prices during the year's first half.
"The CPI will likely pick up in the second half of the year as oil prices are on an increasing trend," permanent secretary of the commerce ministry Siripol Yodmuangcharoen said at a news conference.
Fiscal stimulus attempts by the government are also expected to partially bolster domestic consumer prices, he said.
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