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7 Aug 2024

Thai Economy

Inflation rose to 0.83% YoY in July 2024. The full-year forecast by KResearch remains at 0.8%, contingent upon government measures aimed at reducing energy costs. (Business Brief No.4077 Full Ed.)

คะแนนเฉลี่ย
  • Thailand’s headline inflation rose to 0.83 percent YoY or 0.19 percent MoM in July 2024. Key drivers included rising fuel prices in line with global crude oil prices, coupled with prices of food items such as rice, fresh fruits, and processed foods which remained higher than during the same period of last year.
  • Looking towards the rest of this year, it is anticipated that Thailand’s headline inflation in August may decline compared to July due to the high base effect of August 2023. However, headline inflation is expected to pick up again in 4Q24.
  • KResearch maintains its projection for full-year 2024 headline inflation at 0.8 percent. The future inflation trend will depend on global oil prices and any potential changes to the government’s measures to stabilize domestic energy prices.

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Thai Economy