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Thai inflation rate slows to 0.45% in July, below forecast

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BANGKOK: Thailand\u0027s headline consumer price index (CPI) in July rose a smaller-than-expected 0.45 per cent from a year earlier, weighed down by government subsidies on utilities to cushion the impact of a prolonged COVID-19 outbreak, the commerce ministry said. The figure compared with a forecast for

BANGKOK: Thailand's headline consumer price index in July rose a smaller-than-expected 0.45 per cent from a year earlier, weighed down by government subsidies on utilities to cushion the impact of a prolonged COVID-19 outbreak, the commerce ministry said.

Without the subsidies, which will end in August, the headline CPI would have risen 1.8 per cent, ministry official Wichanun Niwatjinda told a briefing on Thursday . The ministry is maintaining its forecast for headline inflation in a range of 0.7 to 1.7 per cent this year, with inflation seen at 1.01 per cent in the third quarter and 1.9 per cent in the fourth quarter, Wichanun said.The central bank has set a target for headline inflation in a range of 1 to 3 per cent.

 

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