Thai inflation falls for first time in 25 months
THAILAND’S inflation rate fell for the first time in 25 months, thanks to falling energy prices due to government support measures and lower food prices, the commerce ministry said on Monday (Nov 6).
Thailand’s consumer price index (CPI) fell 0.31 per cent in October from a year earlier, versus a 0.3 per cent year-on-year rise in the previous month, according to data.
The figure compared with a forecast for 0.0 per cent for October in a Reuters poll. The core CPI was up 0.66 per cent year-on-year in October.
Headline inflation has been below the central bank’s target of 1 per cent to 3 per cent for the sixth consecutive month.
In the January-October period, the headline CPI rose an average 1.60 per cent from the same period a year earlier, with the core CPI up 1.41 per cent.
The ministry still sees headline inflation at 1.0 per cent to 1.7 per cent this year.
In September, the Bank of Thailand’s monetary policy committee unexpectedly raised the key interest rate by a quarter point to 2.50 per cent, the highest in a decade, saying growth and inflation should pick up next year. It will next review policy on Nov 29. REUTERS
Share with us your feedback on BT's products and services
