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Thailand Inflation Moderates Ahead of Central Bank Rate Decision

  • Core inflation surges to 3% in July on soaring energy costs
  • Nomura sees BOT raising rate by 25 basis points next week
A man carries groceries through a wet market in Bangkok, earlier in July.
A man carries groceries through a wet market in Bangkok, earlier in July.Photographer: Andre Malerba/Bloomberg
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Thailand’s core inflation surged to the highest since 2008 on higher energy and food costs, piling pressure on the nation’s central bank to start raising interest rates.

Core price gains, which strips out volatile food and fuel items, was 3% in July, quickening from 2.51% a month earlier and more than the median 2.63% predicted by economists in a Bloomberg survey, official data showed Friday. The headline inflation rate came in at 7.61% last month, slower than the 8% forecast and a tad below June’s 7.66%.