BANGKOK- Thailand’s headline consumer price index (CPI) rose 0.95 percent in November from a year earlier, driven by higher food and energy prices, after the previous month’s annual increase of 0.83 percent, the commerce ministry said on Wednesday.
The figure compared with a forecast rise of 1.1 percent in a Reuters poll, and was below the central bank’s target range of 1 percent to 3 percent.
The core CPI was up 0.80 percent in November from a year earlier, slightly above a forecast increase of 0.77 percent.
In the January-November period, average annual headline inflation was 0.32 percent, with core inflation at 0.55 percent.
Headline inflation could be at 1.2 percent to 1.3 percent in December, and coming at 0.4 percent to 0.5 percent for the full year, PoonpongNaiyanapakorn, director of the ministry’s trade policy and strategy office, told a press conference.
The ministry projected headline inflation at between 0.3 percent to 1.3 percent in 2025, helped by expected stronger economic growth and government stimulus measures.
On Tuesday, Finance Minister Pichai Chunhavajira said he wanted a further rate cut to support the economy as inflation was low.
Bank of Thailand Governor SethaputSuthiwartnarueput said on Tuesday a mix of policies was needed to manage the economy as interest rates alone cannot address everything, however.
In October, the central bank’s monetary policy committee unexpectedly cut the key interest rate by a quarter point to 2.25 percent but said it was not the start of an easing cycle. The next policy review is on Dec. 18.
