BANGKOK (Reuters) – Thailand’s Composite Consumer Price Index (CPI) rose by an annualized 0.83% in the previous month in November due to higher food and energy prices, the Ministry of Commerce said on Wednesday. It rose by 0.95%.
That compares with a 1.1% rise expected in a Reuters poll and was below the central bank’s target range of 1-3%.
Core CPI rose 0.80% in November compared to the same month last year, slightly higher than the expected 0.77% rise.
The annual average headline inflation rate for the January-November period was 0.32%, and the core inflation rate was 0.55%.
Head of the ministry’s trade policy and strategy department, Poonpong Naiyanapakorn, said at a press conference that headline inflation could be 1.2-1.3% in December and 0.4-0.5% for the year. Ta.
The ministry predicted that headline inflation would be between 0.3% and 1.3% in 2025 due to expected stronger economic growth and government stimulus.
Finance Minister Pichai Chunhabajra said on Tuesday that he wanted further interest rate cuts to support the economy due to low inflation.
Bank of Thailand Governor Setaphut Sutiwartnarept said on Tuesday that a combination of policies is needed to manage the economy as interest rates alone cannot do everything.
The central bank’s Monetary Policy Committee unexpectedly cut its key interest rate by a quarter of a percentage point to 2.25% in October, but said this was not the start of an easing cycle.
The next policy review will be on December 18th.
