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Thailand Inflation July 2023

Thailand: Inflation rises in July

Inflation came in at 0.4% in July, up from June’s 0.2%, largely due to a smaller fall in prices for non-food products.

The trend pointed down, with annual average inflation coming in at 3.9% in July (June: 4.5%). Meanwhile, core inflation fell to 0.9% in July, from the previous month’s 1.3%.

Lastly, consumer prices dropped 0.01% from the previous month in July, swinging from June’s 0.60% rise.

On the outlook, analysts at the EIU commented:

“Inflationary pressure will be driven increasingly by demand-pull factors […] in 2023-24, supported by greater job opportunities in the service sector and improving wage growth prospects.”

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