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Thai September CPI beats forecast as state subsidies end

Thai September CPI beats forecast as state subsidies end

FILE PHOTO: A view of Bangkok's port along Chao Phraya River is photographed during sunset in Bangkok, Thailand, Jun 2, 2021. (Reuters/Athit Perawongmetha)

BANGKOK: Thailand's headline consumer price index (CPI) rose more than expected in September as government utility subsidies ended and energy prices increased, the commerce ministry said on Tuesday (Oct 5).

The CPI rose 1.68 per cent in September year-on-year, the most in four months, compared with a forecast for a rise of 0.70 per cent in a Reuters poll. It followed August's 0.02 per cent dip.

October's CPI is expected to be similar to September's pace, ministry official Wichanun Niwatjinda told a news conference on Thursday.

Consumer prices in the fourth quarter are likely to increase further, driven by higher oil prices, improved economic activity after the easing of coronavirus restrictions and a weaker baht currency, he said.

"Our inflation is not high like other countries because of government support measures," he said, adding main inflation was expected at 0.8 per cent to 1.2 per cent this year, barring additional government measures to reduce living costs.

In September, the core CPI index was up 0.19 per cent from a year earlier, compared with a forecast for a 0.20 per cent rise.

In the January-September period, headline CPI rose 0.83 per cent from a year earlier, with the core rate up 0.23 per cent.

Source: Reuters/lk

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