July CPI rose 2.0% year-on-year, undershooting consensus and reinforcing expectations for steady monetary policy.
Thailand’s July Consumer Price Index (CPI) increased 2.0% year-on-year, below the 2.4% Bloomberg consensus and June’s 2.4% print. The slowdown, driven by softer retail fuel prices, marks the lowest inflation reading since March.
Core CPI averaged 0.8% in the first seven months of the year, trailing the government’s full-year forecast of 1.5%. With manageable price pressures and subdued demand, the Bank of Thailand (BoT) is expected to maintain its policy rate at 1% through year-end.
USD/THB fell 0.2% to 33.00, its lowest level since June 22, as the baht strengthened over four sessions. Despite recent gains, the THB remains down 4.5% year-to-date against the USD, underperforming most Asian currencies.