RTTNews - Monday, the Commerce Ministry said in a report that Thailand's consumer prices dropped 4.4% on a yearly basis in July, following a 4% decline in June. Economists had expected only 4.3% annual drop.

The core CPI that excludes fresh food and energy dipped 1.2% in July compared to a 1% fall in June.

The Commerce Ministry forecasts consumer prices to drop as much as 1% this year. At the same time, the central bank estimates prices to fall up to 1.5% in 2009.

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