Thailand’s inflation accelerates as fuel and food costs rise

Thailand’s headline inflation rose to 2.53% year over year in August, up from 1.95% in July, while core inflation reached 1.44%. Domestic fuel prices remained higher than a year earlier amid ongoing conflict in the Middle East, while ready-to-eat and fresh food prices also increased.

The consumer price index rose 0.56% from July, with food and nonalcoholic beverages up 0.78%. Higher prices for eggs, pork, chicken, rice, fast food and food delivery added to household costs. The Ministry of Commerce kept its full-year inflation forecast at 1.5% to 2.5%, though it said fourth-quarter inflation could approach 2.7% if regional tensions persist.

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