Inflation Surges in Two Southeast Asian Nations, Keeping Central Banks on Edge
- Philippines adds upside surprise in April inflation data
- Thailand’s CPI moderates from 13-year high in prior month
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Consumer prices picked up at the fastest pace in three years in the Philippines and moderated only slightly in Thailand in April, complicating central bankers’ efforts to keep post-Covid recoveries on track.
The Philippines CPI reading released Thursday -- a 4.9% year-on-year climb -- was the hottest inflation since December 2018, capturing spillover from the Ukraine conflict with higher transportation and energy prices. In Thailand, April’s reading came in at 4.65% - slightly below Bloomberg survey estimates, while not ebbing much from a 13-year high registered last month.