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Bangkok Post
Bangkok Post
Business

Inflation set to top 5% this year amid surge in oil imports

Inflation Oil Bank of Thailand Vitai Ratanakorn Thailand
Customers browse and purchase shrimp at a store participating in the government's Thai Chuay Thai Plus" co-payment scheme at a market in Nakhon Ratchasima province on Tuesday. (Photo: Prasit Tangprasert)

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 Middle East, are the main factors pushing up inflation in Thailand.

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