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Trinity Securities expects global inflation, including Thai inflation, to peak in the third quarter of this year while the country's interest rate is set to rise by another 0.75% over the next 12 months to 1.5% in mid-2023.
Price pressures will persist into the third quarter, the Commerce Ministry has admitted, after the country's headline inflation rate hit a near-14-year high in June.
Analysts suggest adjusting portfolios and investing in defensive stocks such as healthcare and ICT to hedge against soaring consumer prices as inflation jumped to 7.66% in June, the highest in 14 years.
Oil refinery stocks fell sharply on Friday with potential losses of between 17-43% in net profits this year after the government asked for the cooperation of companies to channel their profits into the Oil Fuel Fund for three months from July to September to help control fuel prices.
A proposal by labour advocacy groups to increase the daily minimum wage to 492 baht is drawing stiff opposition from entrepreneurs who fear the hike in a volatile economy will deal a blow to businesses.