Thailand’s consumer prices continue climbing, albeit at a considerably slower pace, in July on the back of higher fresh food prices, the Commerce Ministry said Monday.

According to the latest report, the country’s headline consumer price index inched up 0.10% in July from a year ago, but eased 0.35% on a monthly basis.

Meanwhile, core consumer price index, which removes volatile food and energy prices, went up 0.76% from last year and 0.06% month-over-month in July, compared with the poll’s median forecast for a 0.80% on-year increase and a 0.08% on- month rise.

From January to July, headline CPI fell 0.07% and core CPI increased 0.73% on-year from the same time of last year.

Annual headline consumer prices rose for a fourth straight month in July, driven by higher prices of food and cigarettes, the Commerce Ministry said on Monday.

The headline CPI index edged up 0.1% in July from a year earlier after rising 0.38% in June. A Reuters poll had forecast a rise of 0.45% in June.

The index stood at 106.68 points in July, down 0.35% from 107.05 in June.

The CPI index for food and non-alcoholic beverage sector in July rose 1.83%  while the non-food sector dropped by 0.84% from the same month in 2015.

Low inflation is one reason the Bank of Thailand has left its policy interest rate unchanged at 1.50% since April 2015. The rate is just a quarter point above the record low during the global financial crisis of the 1990s. The central bank next reviews monetary policy on Aug 3, and most economists expect no change.

Source:nasdaq