Thai inflation hits 6.2pc in May on high oil prices
Afp, Bangkok
Thailand's inflation rate struck a seven-month high of 6.2 per cent in May amid soaring oil prices, which sharply raised costs of energy and public transportation, the government said Thursday. May inflation, the highest level since October last year, rose from 6.0 per cent in April, the Commerce Ministry said. It was higher than the market's estimate of 6.0 per cent. Oil prices, which stayed above 70 dollars per barrel, pushed up May energy prices by 24.0 per cent year-on-year and public transportation costs by 22.7 per cent. High fuel prices also affected prices of vegetables and fruit which jumped 23.4 per cent in May, the ministry said, adding prices of overall food and beverages rose 5.7 per cent. On a month-on-month basis, May inflation increased 0.7 per cent from April. Core inflation, excluding volatile food and energy prices, rose 2.7 per cent year-on-year in May. The ministry said it would revise its earlier projection of inflation in 2006, which stands between 4.0 per cent and 4.5 per cent, later this month.
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