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Thailand's inflation eases but remains under pressure from energy prices

Thailand's CPI stood at 102.1 points in July. Inflation continued to be driven primarily by domestic fuel prices, which remained higher than a year earlier amid the ongoing conflict in the Middle East, pushing up energy and public transport costs.

A customer shops at a supermarket in Bangkok, Thailand. (Photo: XINHUA/VNA)
A customer shops at a supermarket in Bangkok, Thailand. (Photo: XINHUA/VNA)

​Bangkok (VNA) – Thailand's headline consumer price index (CPI) rose 1.95% year-on-year in July, easing from the 2.42% increase recorded in the previous month, according to the Trade Policy and Strategy Office (TPSO) under the Ministry of Commerce.

The TPSO said the CPI stood at 102.1 points in July. Inflation continued to be driven primarily by domestic fuel prices, which remained higher than a year earlier amid the ongoing conflict in the Middle East, pushing up energy and public transport costs.

Meanwhile, prices of processed foods increased across the board, while fresh vegetable prices also rose due to the low base of the previous year and the effects of a weak El Niño phenomenon.

On a monthly basis, the CPI fell 0.73% in July, mainly due to lower fuel prices. According to the TPSO, retail oil prices declined from nearly 37 THB (1.12 USD) per litre in June to 36.16 THB per litre in mid-July. The Thai Ministry of Energy also introduced measures to stabilise oil prices, helping to curb cost-push inflation.

For the first seven months of 2026, Thailand's inflation averaged 1.21% year-on-year.

The TPSO forecast that inflation would remain positive in August, supported by fuel prices likely to stay above year-earlier levels, continued increases in processed food prices, rising transport costs, and the potential impact of the El Niño phenomenon on fresh vegetable prices.

The agency maintained its full-year headline inflation forecast at 1.5–2%, while noting that the outlook remains uncertain, particularly due to fluctuations in global oil prices./.

​

VNA
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