@africanbusinessshifts: Thailand’s headline inflation picked up more than expected in August, rising 2.53% year-on-year from 1.95% in July, according to data released by the Commerce Ministry on Monday. The reading beat the 2.37% forecast in a Reuters poll and landed inside the Bank of Thailand’s 1% to 3% target range. Core CPI, which strips out volatile food and energy, climbed 1.44% from a year earlier, close to estimates. On a monthly basis prices rose 0.56%, led by a 0.78% gain in food and non-alcoholic beverages. The main drivers were higher domestic fuel prices that remained elevated compared to last year amid ongoing Middle East tensions, plus additional sanctions and military operations. Food costs also pushed up, with ready-to-eat meals, eggs, fresh chicken, vegetables and fruit all pricier, partly due to stronger purchasing power from the Thai Chuay Thai Plus stimulus and reduced crop output from erratic weather. Officials expect the pressure to continue, forecasting Q3 inflation at around 2.37% and Q4 near 2.70% if geopolitical risks persist, while keeping the full-year outlook at 1.5% to 2.5%. The Bank of Thailand held its key rate at 1.00% last month, citing low and uneven growth, with the next policy meeting scheduled for Oct 28. - World Business News.

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Monday 07 September 2026 20:59:47 GMT