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Thai headline CPI rises 6.41% year on year in Sep, less than forecast

Thai headline CPI rises 6.41% year on year in Sep, less than forecast

People wearing face masks shop for street food in Chinatown amid the spread of COVID-19 in Bangkok, Thailand on Jan 6, 2021. (File photo: Reuters/Athit Perawongmetha)

BANGKOK: Thailand's headline inflation rate in September slowed from the previous month and less than expected, data showed on Wednesday (Oct 5), but above-target consumer prices reinforced expectations of further interest rate hikes.

The headline consumer price index (CPI) rose 6.41 per cent in September from a year earlier, slowing from August's 7.86 per cent increase, helped by easing prices of energy products, according to commerce ministry data.

That compared with a forecast rise of 6.60 per cent in a Reuters poll.

The core CPI index was up 3.12 per cent in September from a year ago, also less than a forecast rise of 3.20 per cent.

Inflation is expected to fall further in the fourth quarter of this year, the ministry said in a statement.

Last week, the Bank of Thailand raised its key interest rate by a quarter point to 1.00 per cent to contain inflation that has hit multi-year highs. It will next review the rate on Nov 30, when most economists expect a further, gradual hike.

Source: Reuters/st
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