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Investing.com -- Thailand’s headline inflation continued to contract in July, falling by 0.27% month-on-month and 0.7% year-on-year, significantly below the consensus forecast of +0.4% year-on-year.
The sharper-than-expected monthly decline was primarily driven by food prices, with meat prices dropping 2.24% and vegetables and fruits falling 3.61%. Motor fuel prices also decreased by 0.23% month-on-month.
For the January to July period, headline inflation in Thailand averaged only 0.2% year-on-year, indicating muted price pressure throughout the economy.
While analysts had anticipated a general trend of subdued inflation, the July figures showed a more pronounced contraction than market projections suggested.
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