The headline consumer price index (CPI) of Thailand in August rose 7.86% year-on-year, the highest level since July 2008, the Thai Ministry of Commerce reported on September 5.
Bangkok (VNA) - The headline consumer price index (CPI) of Thailand in August rose 7.86% year-on-year, the highest level since July 2008, the Thai Ministry of Commerce reported on September 5.
The main reason behind the high CPI rise was that energy prices in Thailand remained high.
The country’s headline inflation rate in August rose slightly from the previous month to a 14-year high, in line with forecast and reinforcing expectations of a further interest rate hike later this month.
The pace, the fastest since July 2008, was far above the central bank's target range of 1% to 3%.
Ronnarong Phoolpipat, an official of the ministry said the inflation rate may have peaked in August, citing that inflation stayed at 7% levels for three months in a row, suggesting it has peaked and will come down if the price situation continues to stay at current levels.
The ministry expects inflation at around 5% in the fourth quarter and a range of 5.5% to 6.5% in the whole of 2022, he said.
In August, the core CPI index, which does not include energy and fresh food prices, rose 3.15% from a year earlier, lower than a forecast 3.20%, but faster than July's 2.99%.
In the January-August period, headline inflation of the Southeast Asian nation was 6.14% and the core rate was 2.16%./.
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Illustrative image (Photo: //www.thestar.com.my/) 
