July 26, 2008
Bangkok - Thailand possibly does not face the double-digit inflation this year because world oil prices have started to fall, according to Finance Minister Surapong Suebwonglee.
The finance minister believed the inflation in the second half of this year was unlikely to reach a double-digit rate.
"Thailand's inflation in the second half of this year is unlikely to reach a double-digit rate as many people are concerned about decreasing oil prices."
However, Thailand's inflation surged to a 10-year high of 8.9 percent in June, driven by sharply rising oil prices.
Atchana Waiquamdee, deputy governor of the Bank of Thailand, told reporters Thursday that further rate rises were likely in a bid to curb inflation.
