BANGKOK (Reuters) – Thailand’s headline consumer price index (CPI) rose 0.95% in November from a year earlier, boosted by higher food and energy prices, after an annual increase of 0.83% the previous month, the ministry said on Wednesday shops.
The figure, compared with a 1.1% rise forecast in a Reuters poll, was below the central bank’s target range of 1% to 3%.
Core CPI rose 0.80% in November from a year earlier, slightly above the forecast increase of 0.77%.
In the period January – November, the average annual total inflation was 0.32 percent, and the core inflation was 0.55 percent.
Headline inflation could be at 1.2% to 1.3% in December, reaching 0.4% to 0.5% for the full year, Poonpong Naiyanapakorn, director of the ministry’s Trade Policy and Strategy Office, said at a conference for journalists.
The ministry forecast headline inflation between 0.3% and 1.3% in 2025, helped by expected stronger economic growth and government stimulus measures.
On Tuesday, Finance Minister Pichai Chunhavajira said he wanted further rate cuts to support the economy as inflation was low.
Bank of Thailand Governor Sethaput Suthiwartnarueput said on Tuesday that managing the economy requires a combination of policies as interest rates alone cannot solve everything.
In October, the central bank’s monetary policy committee unexpectedly cut its key interest rate by a quarter of a point to 2.25%, but said it was not the start of an easing cycle.
The next rules review is on December 18th.
