Business News Asia
Thai headline inflation slowed in September from the previous month and was lower than expected. However, above-target consumer prices have reinforced expectations of further rate hikes.
According to the Department of Commerce, the consumer price index (CPI) rose 6.41% in September from a year earlier. Thus, the increase slowed down compared to 7.86% in August. This was due to lower prices for energy products.
The core CPI index rose 3.12% year-on-year in September, below expectations of 3.20%.
A statement from the ministry said that inflation is expected to decline further in the fourth quarter of this year.
Last week, the Bank of Thailand raised its key interest rate by 0.25% to 1.0% in an effort to curb inflation, which has been at a record high for years. The next rate will be reviewed on November 30, with most economists expecting a more gradual increase.