The inflation rate rose less than 1 percent in November, while the average inflation rate in the first 11 months represented a 2.24 percent increase.

Deputy Permanent Secretary for Commerce Urawee Ngowroongrueng has revealed that the inflation rate in the month of November stood at 104.86, 0.08 percent increase month-on-month, and 1.92 percent rise compared to the same period of last year.

The average rate in the past 11 months of 2013, according to her, rose about 2.24 percent compared to last year’s figure, thanks to the increasing prices of food products.

The Deputy Permanent Secretary for Commerce also expected that next year, the inflation rate will be in the range of 2-2.8 percent, under the GDP expansion of 3-3.5 percent. The average price of crude oil will be around 95-115 US dollars per barrel, and the Thai currency will swing in the range of 29-34 baht against the American dollar.

News from NNT