Thailand's headline consumer price index (CPI) rose 0.83% in July from a year earlier, after the previous month's annual increase of 0.62%, the Commerce Ministry said on Wednesday.
The July figure compared with a forecast increase of 0.70% in a Reuters poll, and remained below the Bank of Thailand's (BoT) target range of 1% to 3%.
Inflation in August is expected to be close to July's pace, Poonpong Naiyanapakorn, the director of the Trade Policy and Strategy Office, told a press conference.
In the first seven months of 2024, average annual headline inflation was 0.11%. The ministry has retained its forecast for the full year of between 0% and1%.
The core CPI, which excludes volatile food and energy prices, rose 0.52% on the year in July and increased 0.42% in the first seven months of 2024 from the same period a year earlier.
On Tuesday, a survey of the University of the Thai Chamber of Commerce (UTCC) showed that Thai consumer confidence dropped for a fifth consecutive month in July to its lowest level since August last year due to concerns over a slow economic recovery, the rising cost of living and political uncertainty.
