BANGKOK- Thailand’s headline inflation outstripped forecasts to hit a near 14-year high in June, reinforcing expectations of a rate hike as early as next month, and with the commerce ministry warning price pressures will extend into the third quarter.
The headline consumer price index (CPI) rose 7.66 percent from a year ago, driven up by higher energy prices and also affected by base effects, the ministry said on Tuesday.
The figure beat a forecast 7.50 percent rise in a Reuters poll and compared with May’s 7.10 percent rise.
The CPI in the current quarter is expected to rise at a similar pace as the second quarter’s 6.46 percent, ministry official RonnarongPhoolpipat told a news conference.
Consumer prices, however, should fall sharply in the final quarter of the year due to last year’s high comparative figures, he said. – Reuters
