Thailand : inflation could top 10 percent in July
Thai inflation could top 10 percent in July
BANGKOK: Inflation in Thailand could reach double digits in July and August, a central bank official said Monday, after hitting a ten-year high last month. “Don’t be panicked if you see that inflation goes up to double-digits in July and August,” Amara Sriphayak, senior director of the bank’s domestic economy department, told reporters.
“It is possible because the oil price still keeps rising.” The Bank of Thailand governor Tarisa Watanagase made a similar prediction on June 13, but three days later downplayed the remarks in a new statement aimed at reassuring investors.
Annual inflation hit a 10-year high of 7.6 percent in May as soaring fuel prices pushed up costs in food and other sectors. The Commerce Ministry is due to release its inflation report for June on Tuesday. afp
dailytimes.com.pk