July 2, 2008
BANGKOK - The inflation rate surged to a 10-year high of 8.9 percent in June, driven by skyrocketing oil prices, according to the commerce ministry.
Fuel prices in Thailand rose 44.5 percent year-on year in June, while food costs were up 11.4 percent.
Increasing food prices lead to higher rice price which jumped 35.8 percent, while pork costs jumped 31.6 percent.
Inflation was at 6.3 percent in the first half of the year due mainly to rising fuel costs.
Rising food prices led to rice price hike which jumped 35.8 percent while pork costs jumped 31.6 percent.
The central bank warned on Monday the inflation could reach double digits in July and August.
