August 2, 2008
Bangkok - It is expected the inflation rate will be 9-10% this year, the highest record in its history, as oil prices keep going up for more than two years.
Visit Tantisunthorn, secretary-general of the Government Pension Fund, revealed the soaring oil prices which affected the world economy resulted in high inflation rate and cost of living.
The inflation also affected Thailand’s investment outlook.
Visit said that the rising inflation was not good for the monetary and capital market as well.
Increasing oil prices affected the production cost in all sectors, and consumers had to bear the consumer products cost burden.
He also said the fund would be more careful about its investment and keep up with the economic situation continuously.
Government Pension Fund is the long-term savings fund, giving its importance to the returns on long-term investment.
The fund has been established since 1997.
