BANGKOK, Feb 2 (TNA) - Thailand's inflation in January fell marginally by 0.4 per cent year-on-year, its first decline in more than nine years, according to Siripol Yodmuangcharoen, Permanent Secretary for Commerce.
The retreat of January's inflation was attributed to a sharp fall of 14.4 per cent in the transportation and communication sectors, in particular a 32.4 per cent decline in fuel prices, said Mr. Siripol.
Consumer price index for non-food and non-beverages fell 8 per cent in January but was up 11.7 per cent for the food and beverages sector, he said.
Core inflation, which excludes volatile food and energy prices, last month rose 1.6 per cent year-on-year but was down 0.1 per cent from December 2008 due to declines in public transportation and cooked food, he said.
The commerce ministry, he said, has revised its projected inflation for 2009 to between 0-0.5 per cent from 0-1.2 per cent after the government extended its measures to offset cost of living to help the poor, and on the assumption that Dubai crude is at an average of US$50-60 per barrel and the Thai baht is moving at the average exchange rate of Bt35-36 per US dollar.
He said inflation may continue to suffer contract during the first half of 2009 with no sign of tight money seen.
On unemployment problem, Mr. Siripol said unemployment in Thailand now stood at 1.4 per cent or about 500,000 people.
Meanwhile, Pak Tongsom, acting director of the Office of Small- and Medium-Enterprises Promotion, said Thailand's entrepreneurs confidence index in trade and service for December 2008 rose to 44.4 from 42.5 in November with the increase in almost every sector.
Mr. Pak said the increase was attributed to an ease in Thailand's economic problem as the new government was installed while people spent more money during the holiday season and oil prices remained steady low.
Despite the increase in the index, some business sectors dropped heavily.
For example, wholesale business for construction materials plunged the most from 43 to 40.2, owing to the economic slowdown, massive employee lay-offs and a decline in the public's purchasing power. (TNA)
Business News : Last Update : 17:11:53 2 February 2009 (GMT+7:00)
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