Thai headline CPI rises 6.41% y/y in Sept, less than forecast
2022.10.05 01:13
© Reuters. FILE PHOTO: People wearing face masks shop for street food in Chinatown amid the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand, January 6, 2021. REUTERS/Athit Perawongmetha/File Photo
BANGKOK (Reuters) – Thailand’s headline inflation rate in September slowed from the previous month and less than expected, data showed on Wednesday, but above-target consumer prices reinforced expectations of further interest rate hikes.
The headline consumer price index (CPI) rose 6.41% in September from a year earlier, slowing from August’s 7.86% increase, helped by easing prices of energy products, according to commerce ministry data.
That compared with a forecast rise of 6.60% in a Reuters poll.
The core CPI index was up 3.12% in September from a year ago, also less than a forecast rise of 3.20%.
Inflation is expected to fall further in the fourth quarter of this year, the ministry said in a statement.
Last week, the Bank of Thailand raised its key interest rate by a quarter point to 1.00% to contain inflation that has hit multi-year highs. It will next review the rate on Nov. 30, when most economists expect a further, gradual hike.
