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Investing.com -- Thailand’s headline inflation rate remained in negative territory in June at -0.25% year-on-year (YoY), below the market consensus expectation of -0.1% YoY, but showing slight improvement from May’s -0.57% YoY.
On a month-on-month (MoM) basis, inflation was essentially flat at +0.02%. The negative annual inflation rate was primarily driven by lower energy costs and reduced electricity bills.
For the first half of 2023, Thai inflation increased by +0.36% YoY.
Food and beverage prices rose by +1.64% YoY in June, though the monthly pace slowed to +0.07% from +0.6% in May. On a monthly basis, prices declined for rice, meats, eggs, and seasonings and condiments, while vegetables, fruits, and fish prices continued to increase. Meat prices remained a significant contributor to the positive food inflation, rising by +8.46% YoY.
Core inflation, which excludes volatile food and energy prices, stayed relatively stable at +1.06% YoY or -0.04% MoM in June, slightly down from +1.09% in May. Prepared food prices continued to support the core inflation figure with a +3.4% YoY increase.
Several components within core CPI showed negative annual growth, including apparel and footwear (-0.88%), housing and furnishings (-0.35%), textiles (-1.90%), and medical services (-0.80%).
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