Thu, December 6, 2007 : Last updated 19:25 hours
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Home > Business > Krirk-krai calms inflation fears
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Krirk-krai calms inflation fears
Commerce Minister Krirk-krai Jirapaet on Thursday quashed fears that next year's inflation would exceed 3 per cent in light of skyrocketing oil prices.
He said that while this year's inflation would be no more than 2.5 per cent, the next year's level of 3 per cent is acceptable.
"There's no need to be overpanic. Goods prices now are at reasonable levels," he said.
He noted that amid high oil prices the ministry could not bar manufacturers from raising prices, but the increases must be reasonable.
Earlier, the ministry approved thei price hike in instant noodles and vegetable oil.
- The Nation
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