A food vendor benefits from high sales at Yaowarat market in Bangkok on Sunday. The leading private sector group on Wednesday expressed concern that inflation that could lead to consumers being more selective in their spending this year. (Photo: Apichart Jinakul)
The Joint Standing Committee on Commerce, Industry and Banking expects inflation to run at 1.5-2.5% this year, and 3% in first half due to rising oil prices.
Supant Mongkolsuthree, chairman of the Federation of Thai Industries, said on Wednesday that tension between Russia and Ukraine could prompt Russia to reduce its crude oil and natural gas production in response to pressure from opposing countries.
That would raise the price of both oil and goods, especially energy and fresh food.
Under the circumstances, the JSCCIB foresaw inflation of…
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