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Inflation likely to hit 3 percent to 3.5 percent next year in Thailand.
Byline: Darana Chudasri
Dec. 2--Inflation is expected to rise to 3 percent-3.5 percent in 2005, compared with 2.7 percent-2.8 percent this year, because of higher energy and labour costs, the Commerce Ministry announced yesterday.
Commerce permanent secretary Karun Kittisataporn said the average oil price for 2005 was estimated at $41-42 per barrel, up 15-20 percent from this year's projection.
The baht was expected to strengthen slightly to 38-39 to the US dollar.
Local diesel fuel prices will possibly increase by as much as 60 percent in 2005 once the government lifts the current price cap. Diesel is now fixed at 14.59 baht per ...
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