July 26, 2019 / 8:24 AM / 2 months ago

Thai July headline inflation rate seen quickening to 1%: Reuters poll

FILE PHOTO: People crowd the escalator at a shopping mall in Bangkok, Thailand December 28, 2018. REUTERS/Soe Zeya Tun/File Photo

BANGKOK (Reuters) - Thailand’s annual headline inflation rate in July likely quickened from the previous month, returning to the central bank’s target range, a Reuters poll showed.

The median forecast of 12 economists was for the headline consumer price index (CPI) to increase 1% in July from a year earlier after 0.87% rise in June.

The Bank of Thailand (BOT) has forecast 2019 headline inflation of 1%, against its 1%-4% target range.

The core inflation rate, which strips out energy and fresh food prices, was seen at 0.50% in July, according to the poll. It stood at 0.48% in June.

The poll showed that Thailand’s manufacturing production index in June probably contracted 3.15% from a year earlier, after dropping 3.99% in May.

The Thai central bank has left its policy interest rate THCBIR=ECI unchanged at 1.75% since tightening in December for the first time since 2011.

It will next review monetary policy on Aug. 7. Most economists expect no policy change for the rest of 2019.

Reporting by Satawasin Staporncharnchai,; Editing by Orathai Sriring and Sherry Jacob-Phillips

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