Thailand Inflation June 2022

Thailand

Thailand: Inflation comes in at highest level since July 2008 in June

July 5, 2022

Consumer prices rose 0.90% in June over the previous month, below the 1.40% rise logged in May. June’s increase was mainly driven by rising prices for energy, transport and food.

Inflation came in at 7.7% in June, which was up from May’s 7.1%. June's reading marked the highest inflation rate since July 2008. Annual average inflation rose to 3.6% in June (May: 3.0%). Lastly, core inflation rose to 2.5% in June, from May’s 2.3%. Rising price pressures increase the chance of the Central Bank raising rates later this year; the next Central Bank meeting is on 10 August.

FocusEconomics Consensus Forecast panelists project inflation to average 5.3% in 2022, up 0.6 percentage points from last month’s forecast, while for 2023, panelists project average inflation of 2.1%.


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Thailand Inflation June 2022

Note: Annual and monthly variation of consumer price index in %.
Source: Ministry of Commerce.


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