Inflation in Thailand highest in 13 years

Thailand’s Trade Policy and Strategy Office said on June 6 that headline inflation increased by 7.1% in May 2022 compared to the same period last year.

In May 2022, energy prices in Thailand rose 37.2 percent year-on-year due to rising global oil prices, the end of subsidies for gas, and an increase in the value of fuel taxes (Ft). Low prices last year also contributed to the current increase in inflation.

The main cause of inflation is the increasing demand for goods, accompanied by economic recovery, tight supply, and economic and trade sanctions against Russia, all of which result. The combination causes an imbalance of supply and demand and pushes up prices in Thailand.

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