Bangkok Post
Inflation set to top 5% this year amid surge in oil imports
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The Bank of Thailand expects headline inflation to peak at 5.2% in October this year, driven by rising oil imports and the government's subsidy measures.
Key facts
- The Bank of Thailand expects headline inflation to peak at 5.2% in October this year, driven by rising oil imports and the government's subsidy measures.
- Speaking at the Governor Connect event on Tuesday, central bank governor Vitai Ratanakorn said the government's 400-billion-baht emergency loan decree, together with surging oil imports and supply shortages caused by prolonged war in the
- With the emergency loan decree, the Bank of Thailand now expects average headline inflation of 3% this year, easing to 1.4% in 2027.
- We expect headline inflation to rise to a peak of 5.2% in October this year, then gradually ease, declining significantly in the second quarter of next year to 1.3%, assuming the war in the Middle East comes to an end,"
- Prior to the decree, the regulator forecast average headline inflation of 2.9% this year and 1.5% next year.
- In April, the value of exports excluding gold rose 23.4% year-on-year, while imports surged 49%.
Summary
Speaking at the Governor Connect event on Tuesday, central bank governor Vitai Ratanakorn said the government's 400-billion-baht emergency loan decree, together with surging oil imports and supply shortages caused by prolonged war in the Middle East, are the main factors pushing up inflation in Thailand.
The government's 200-billion-baht "Thais Help Thais" subsidy scheme, scheduled for June-September this year, is expected to gradually push up headline inflation.