Headline inflation slows slightly in July as rate hike looms

A woman sits next to a sign saying 'High product prices, low wages' outside Government House, Bangkok, on July 18, 2022. Protesters gathered outside Government House, demanding a hike in the daily minimum wage for workers. (Photo: Apichart Jinakul)

Thailand's headline inflation rate slowed in July for the first time this year, helped by government support measures, but the pace was still near a 14-year high, reinforcing a view of an interest rate hike next week.

The headline consumer price index (CPI) rose 7.61% in July, driven by high energy prices, Commerce Ministry data showed on Friday, and missed a rise of 7.8% forecast in a Reuters poll.