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Economic
Research
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2
August 2017
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Thailand
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Economic Update
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Thailand’s
CPI rose 0.2% YoY in July, picking up from unchanged readings for the
two consecutive months prior. The return of inflation was driven mainly by
higher petrol prices and a smaller drop in food costs. Core CPI gained 0.5%
YoY in July, ticking up from +0.4% in the month before.
Going
forward, we maintain our forecast for the CPI to rise 1.1% in 2017 from
0.2% last year. This is on account of overall higher energy prices,
sustained economic recovery, tightening labour conditions, and an expected
pick-up in private consumption in 4Q.
With
CPI benign and economic growth prospects still moderately positive, we do not
expect the BoT to alter the policy rate in 2017.
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Wednesday, August 2, 2017
Energy The Key Driver Again As July CPI Ticks Up
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