Thailand
Thailand: Inflation unexpectedly up in June but at slower pace
Thailand’s headline consumer price index (CPI) increased 0.23% in June from a year earlier, slowing from a 0.53% year-on-year rise in the previous month, the Commerce Ministry said on Wednesday.
Headline inflation was the lowest in 22 months, due to lower food and energy prices and a high base last year. It is expected to rise slightly in the third quarter, the ministry said.
The figure compared with a forecast fall of 0.1% for June in a Reuters poll. The core CPI was up 1.32% year-on-year in June.
It was the second straight month that the main CPI dropped below the Bank of Thailand’s (BoT) target range of 1% to 3%.
In the January-June period, annual headline inflation was 2.49% and the core rate at 1.87%, the ministry said, with headline inflation for 2023 seen at 1% to 2%.
In May, the central bank raised its policy interest rate by a quarter point to 2%. It will next review policy on Aug. 2, when some economists expect no rate change while others see a further hike.
Source: https://www.bangkokpost.com/business/2605895/thai-headline-cpi-unexpectedly-rises-in-june-but-at-slower-pace