Oil Shock Drives Thailand Inflation to Near Top End of Target

Higher oil prices linked to the Iran conflict pushed Thailand’s inflation to near the top end of the central bank’s target, ending a yearlong stretch of falling prices.

Consumer price index rose 2.89% in April from a year earlier, marking the first increase in more than a year, Commerce Ministry data showed Wednesday. The reading was above the 2.2% median estimate in a Bloomberg survey of economists.