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Thailand’s inflation rate may increase as oil prices surge after Saudi drone attacks

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Thailand’s inflation rate may increase as oil prices surge after Saudi drone attacks

 

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Higher global crude oil prices following Saudi oil attacks may increase Thailand’s inflation rate this year by 0.3 percent, according to Kasikorn Research Center.

 

The think tank made an assessment on such an impact on the Thai economy is based on two scenarios. First, if Saudi Arabia does not launch military retaliation, global crude oil prices will likely spike over the short term for only a few weeks. 

 

Under this scenario, Kasikorn Research Center expects that global crude oil prices may gradually decline towards the level before the Saudi Arabia’s oil refinery attacks and this may affect headline inflation from September to October, 2019. 

 

As a result, headline inflation during the fourth quarter of this year may increase 0.05 percent over the current projection, bringing the average headline inflation rate for 2019 to 0.84 percent.   

 

Full story: https://www.thaipbsworld.com/thailands-inflation-rate-may-increase-as-oil-prices-surge-after-saudi-drone-attacks/

 

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3 minutes ago, rwill said:

But the oil price has already gone back down.

Yeah!! Only find random sporadic petrol stations that jumped up to price gouge for all them can get...

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Funny how prices go up with inflation, but NEVER down for imports with a strong baht!  Like farang foodstuffs.

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Saudi Arabia has stated that the production/facilities at that one depot will be repaired by the end of September.

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