November 4, 2008
Bangkok - The inflation fell for a third month to 3.9 percent after declining fuel, food and consumer good prices.
The inflation rate soared to a 10-year-high of 9.2 percent in July.
However, it has steadily dropped since then. It is down from 6 percent year-on-year hike in September.
"The inflation rate dropped... due to falling oil prices and lower prices of domestic consumer products, which have been controlled by the commerce ministry," said Siripol Yodmuangcharoen, permanent secretary at the ministry.
"Inflation over the next two months is not likely to be high."
2008 inflation forecast was lowered from 6.3 to 5.9 percent by commerce ministry, according to AFP.
The inflation was averagely at 6.3 percent in the first ten months of the year.
The Bank of Thailand (BoT) previously raised its rates by 25 basis points to 3.75 percent in August.
Thailand’s inflation was mainly driven by global oil prices.
The country’s economic growth is currently affected by political situation and global financial crisis.
The central bank is due to call a meeting again in December.
