Thai inflation in June beat forecasts as energy prices continued to rise while people were struggling with higher cost of living, according to the report from the Ministry of Commerce earlier this morning.
Thailand’s Consumer Price Index for June 2022 rose 7.66% YoY, higher than the consensus of 7.5% and also higher than the previous reading of 7.1% in May. Core inflation which excludes food and energy prices expanded 2.51% YoY.
The average CPI for the first six months of 2022 is at 5.61% and core CPI at 1.85%.
The inflation of 7.66% in June 2022 was the highest rate in 14 years in which the previous high was at 9.2% in July 2008.