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Thai headline CPI rises 5.98% y/y in Oct, slightly below forecast

Thai headline CPI rises 5.98% y/y in Oct, slightly below forecast

FILE PHOTO: People wearing face masks shop inside a market amid the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand, November 16, 2021. REUTERS/Athit Perawongmetha

BANGKOK : Thailand's headline consumer price index (CPI) rose 5.98 per cent in October from a year earlier, official data showed on Monday, slightly lower than forecast and the slowest pace in six months.

The rise follows September's 6.41 per cent increase and was just shy of the 6.0 per cent forecast in a Reuters poll. It was the lowest since April's 4.65 per cent.

The core CPI index, which strips out energy and fresh food prices, was up 3.17 per cent in October from a year ago, versus a forecast rise of 3.20 per cent, the commerce ministry said.

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, the ministry said in a statement.

However, high energy costs, the weak baht currency and rising domestic demand could limit the rate of the decline.

"The inflation situation is slowing," senior commerce official Poonpong Naiyanapakorn told a briefing.

"It is expected to slow in the remaining two months," he said.

Headline inflation forecast for the year is still seen at the 5.5 per cent to 6.5 per cent range, the commerce ministry said.

Source: Reuters
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