Rising Energy Prices Send Thailand’s Inflation to 13-Year High in May

Thailand’s inflation rose to a 13-year high in May, as costs of living continued to soar amid rising energy prices, while several of the government’s support packages have expired, the Ministry of Commerce reported on Monday.

The Consumer Price Index (CPI) rose to 106.62 in May, up 7.10 percent year-over-year and 1.40 percent from the previous month’s reading. The average inflation rate for the first five months of the year (Jan-May 2022) was 5.19 percent.

Meanwhile, the Core CPI was at 102.74 in May, an increase of 2.28 percent from the same period of last year and 0.17 from a month-over-month basis.