Official data figures have indicated that Thailand’s headline consumer price index (CPI) rose 5.98% in October from a year earlier, slightly lower than forecast and the slowest pace in six months.
The rise follows September’s 6.41% increase and was just shy of the 6.0% forecast in a Reuters poll.
According to the Ministry of Commerce, the core CPI index, which strips out energy and fresh food prices, was up 3.17% in October from a year ago, versus a forecast rise of 3.20%.
The ministry said in a statement that inflation in November would slow due to lower consumer goods prices while other prices remained stable despite increasing costs, helped by government measures to ease the cost of living.
However, high energy costs, the weak baht currency and rising domestic demand could limit the rate of the decline.
Senior commerce official Poonpong Naiyanapakorn told a briefing that the inflation situation is slowing, adding that it is expected to slow in the remaining two months.
The ministry noted that headline inflation forecast for the year is still seen at the 5.5% to 6.5% range. (NNT)
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