The Commerce Ministry announced that headline consumer price index (CPI) inflation increased by 0.62% in June compared to a year ago, following a previous annual growth of 1.54%. This June figure fell short of the projected 1.12% increase from a Reuters poll and remained below the central bank’s target range of 1% to 3%.
The core CPI, which excludes volatile food and energy prices, experienced a 0.36% year-on-year rise.
In May, the headline CPI surged by 1.54% year-on-year, marking a return to the central bank’s target range of 1% to 3% after a year.
For the initial six months of 2024, the average annual headline inflation stood at 0.0%, with the core rate at 0.41%.
The ministry maintained its forecast for the year, with headline inflation projected to range between 0% to 1%.
The Bank of Thailand anticipates that headline inflation will remain below the target range in the third quarter before reentering the range in the fourth quarter.
