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Inflation Surges to 2.7% in Nov., Highest in 7 Months

Retail Prices Shopping Supermarket Store Stale Discounts Inflation

Inflation in November surged to 2.7 percent, the highest pace in seven months, fueled by the easing of disease controls and business reopenings.

Ronnarong Phoolpipat, director-general of the Commerce Ministry’s Trade Policy and Strategy Office, said inflation in November ran at 2.7 percent compared with a year earlier and up from 2.4 percent in October.

The rate was the highest since April due to rising retail fuel prices, the base of low prices last year and vegetable prices affected by recent flooding.

Inflation was up from the previous month partly because of disease-control relaxation and economic stimulus measures including measures to promote tourism and spending which increased people’s purchasing power.

The Commerce Ministry predicted that inflation this year would hover around 0.8-1.2 percent, with an average of 1 percent, and should support suitable and steady economic growth.