Headline inflation in May hits 13-year high

Headline inflation in May hits 13-year high

Core CPI increased 2.28% year-on-year

Thailand’s headline inflation, gauged by the consumer price index (CPI), hit a 13-year high in May, largely attributed to the rise in energy and food prices.

The Trade Policy and Strategy Office reported yesterday headline inflation rose 7.1% in May year-on-year, accelerating from 4.7% in April.

Ronnarong Phoolpipat, director-general of the Trade Policy and Strategy Office, said the increase was in line with rising inflation in other countries, especially among advanced economies such as the US and the EU member states. He said major contributions included increasing demand following the economic recovery, tight supply, along with trade and economic sanctions against Russia, all of which combined to cause a supply-demand…