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Thailand’s consumer price index (CPI) rises to the highest in 9 months

According to the Ministry of Commerce, Thailand’s consumer price index (CPI) increased 0.99% for the fourth consecutive month in November, the highest jump in 9 months

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Thailand’s consumer price index (CPI) for November rose to the highest in nine months as rising fuel prices and new excise tax slapped on tobacco  were blamed on the inflation rise.

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According to the Ministry of Commerce, Thailand’s consumer price index (CPI) increased 0.99% for the fourth consecutive month in November, the highest jump in 9 months.

It said higher fuel prices and new excise tax, which was put into force on Sept 16, have driven up the prices of tobacco products in the country.

It said the tax caused a jump in inflation by 0.08% despite falling prices of dairy products.

But for the inflation rate during the past 11 months, it was a 0.66% on average. However this was within the ministry’s earlier projection of 0.4-1%.

For next year, it forecasts overall economic growth at 3.5-4% with assumption that global oil prices staying around US$50-60 per barrel while the Thai baht is within the range of 33-35 baht per dollar.

The post CPI rises to the highest in 9 months appeared first on Thai PBS English News.

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BANGKOK (NNT) – Thailand’s fruit exports continue to increase, despite the sluggish global economy caused by the COVID-19 pandemic, with key trade partners being countries that have free trade agreements (FTAs) with the kingdom.

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50:50 campaign may not get immediate extension

National News Bureau of Thailand

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BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.

The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.

Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.

The campaign has already been extended once, with the current end date set for 31st March.

The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.

The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.

Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.

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