Thai inflation surged to a 66-month high in July, stoked by record oil prices, a weaker baht and a cut in subsidies aimed at keeping domestic gasoline prices low, the Commerce Ministry said on Tuesday.
Headline inflation was 3.1 percent during the year through July, its highest level since February 1999 and compared with 3.0 percent for June, the ministry said in a statement.
Analysts had predicted inflation of 3.2 percent for last month, against only 1.8 percent for July 2003.
Core inflation, excluding volatile energy and fresh food prices, was 0.7 percent during the year through July, up from 0.5 percent for both May and June and against 0.2 percent for each month from February to April, the ministry said.
July core inflation was at its highest since April 2002.
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