Thailand Inflation Rate Below Forecasts

2024-12-05 00:28 By Chusnul Chotimah 1 min. read

The annual inflation rate in Thailand accelerated to 0.95% in November 2024 from 0.83% in October, marking the highest reading since May.

However, this result fell short of market expectations of 1.12% and remained outside the central bank’s target range of 1% to 3% for the sixth month.

There was a rebound in transport prices (1.38% vs -0.27% in October) amid a slight acceleration in housing inflation (0.43% vs 0.41%).

Simultaneously, prices of food and non-alcoholic beverages rose the least in four months (1.28% vs 1.95%).

Meanwhile, clothing and footwear cost fell further (-0.51% vs -0.49%).

The annual core inflation rate, excluding volatile items such as food and energy prices, rose to 0.80%, the highest since July 2023 and above forecasts of 0.77%.

Monthly, the CPI rose 0.13%, after a 0.06% drop in October.

The Commerce Ministry forecasts inflation in 2024 will range between 0.2% and 0.8%, with a midpoint of 0.5%.

For next year, inflation is expected to stay around 0.3% and 1.3%.



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