Domestic inflation rises slightly in July
Domestic inflation in July rose by 0.38% due to increases in the price of petrol, electricity, and fresh food, according to Poonpong Naiyanapakorn, director of the Trade Policy and Strategic Planning Office.
The consumer price index (CPI) for July remained elevated at 0.38%, primarily due to significant increases in energy prices which continue to remain high.
The high costs of food and the upward adjustment of electricity prices have contributed to the fact that inflation for the first 7 months (January-July) is 2.19%, which is considered within the target range projected by the Finance Ministry.
Inflation is expected to continue to rise slightly for the remainder of this year due to the upward trend in oil prices. The Commerce Ministry projects that inflation for the entire year will range between 1% and 2%, with a median value of 1.5%, based on the assumption that the gross domestic product (GDP) will be between 2.7%-3.7%. The price of crude oil is projected to be between 71-81 US dollars per barrel, and the exchange rate for the baht is expected to be in the range of 33.5-35.5 per US dollar.
