Thailand’s October inflation reaches 3.9%, highest in nearly four years
The annual rise exceeded the Reuters poll forecast of 3.24 per cent and took headline inflation above the central bank’s target range.
Thailand recorded annual headline inflation of 3.9 per cent in October as oil, food and transport became more expensive, the Commerce Ministry said on Nov 6. The increase in the consumer price index was the largest in nearly four years.
Economists polled by Reuters had forecast a 3.24 per cent rise. The October figure also put headline inflation above the central bank’s target band of 1 to 3 per cent, something that had not happened for nearly four years.
Stripping out volatile energy prices and fresh food, the core consumer price index increased by 1.58 per cent compared with October a year earlier.
The ministry anticipated a further rise in headline inflation in November but kept its forecast for the full year at 1.8 per cent to 2.2 per cent. Nantapong Chiralerspong, who heads the ministry’s Trade Policy and Strategy Office, said inflation was not excessively high and was expected to stay stable over the remainder of the year.
