Business News Asia
The Ministry of Commerce’s Office of Trade Policy and Strategy (FPO) reported that the Consumer Price Index (CPI), or headline inflation, was 107.92 in November, up 5.55% from the same month last year and down 0.13% from October. This results in an average inflation rate for the first 11 months of this year (Jan.-Nov.) of 6.10% compared to the same period last year. The core consumer price index (CPI) or core inflation stood at 103.92 in November, up 3.22% year-on-year and up 0.13% from October. Thus, the average core inflation rate in the first 11 months of this year increased by 2.44% compared to the same period last year.
The Ministry of Commerce expects the inflation rate to be 5.5-6.5% this year, which is in line with the economic situation and inflation expectations of Thai economic agencies.
However, a comparison with foreign inflation shows that Thailand’s inflation rate is lower than that of many other countries, including the U.S., the U.K., Italy, Mexico, and India, as well as ASEAN countries, including Laos, the Philippines, and Singapore. The inflation forecast for December is expected to remain at a similar level to the previous month. This is due to the fact that prices for energy, food and public transport are still higher than in the same month last year and domestic demand has started to improve.