World Economy

Thai CPI Rising

Thai CPI RisingThai CPI Rising

Thailand’s consumer prices rose for the second straight month in May, following more than a year of declines, as an uptick in oil prices and a drought-related decline in food supply pushed up the inflation rate, Nasdaq reported. The headline inflation rate increased 0.46% year-over-year and 0.56% sequentially in May, the commerce ministry said Wednesday. Drought conditions that have resulted in a lower supply of vegetables and meat, as well as the recent rise in global oil prices, contributed to the further increase in the rate of inflation, said Somkiat Triratpan, director of the ministry’s trade and strategy bureau. In May, Thailand’s core consumer price index, which excludes volatile food and energy prices, advanced  0.78% from last year and 0.05% from the preceding month, accordingly to the ministry. The median forecasts for core CPI were for a 0.81% year-over-year rise and a 0.10% sequential increase. The ministry maintained its 2016 inflationary target range of between zero and 1.0%.