Thailand's consumer inflation growth drops in October
Nov 08, 2022
Bangkok [Thailand], November 8: Thailand's consumer inflation growth slowed for the second straight month in October as energy and food prices continued to fall, data showed on Monday.
The country's consumer price index (CPI), a key indicator of inflation, rose 5.98 percent year on year last month, down from a 6.41 percent increase in September, according to the Ministry of Commerce.
The core CPI, which excludes raw food and energy prices, edged up 3.17 percent in October, compared to an increase of 3.12 percent in the previous month.
In the first 10 months, the country's CPI rose 6.15 percent from a year earlier, far above the central bank's target range of 1 percent to 3 percent for headline inflation.
In November, inflation would slow due to lower consumer product prices, while other prices remained stable despite rising costs, aided by government measures to reduce the cost of living and relieve the flood, the commerce ministry said in a statement.
It added that high energy prices, a weak Thai baht, and increased domestic demand could be risk factors that limited the inflation rate decline.
The headline inflation rate this year is projected to range between 5.5 percent and 6.5 percent, the ministry said.
Source: Xinhua
