Thailand’s annual headline inflation picked up in September, primarily driven by increased prices for diesel and certain vegetables, according to the Commerce Ministry on Monday. Nevertheless, inflation remains below the central bank’s target range of 1% to 3%.
The headline consumer price index (CPI) rose by 0.61% in September compared to a year earlier, after an annual increase of 0.35% in August. This figure fell short of a forecasted rise of 0.80% according to a Reuters poll.
Poonpong Naiyanapakorn, director of the Trade Policy and Strategy Office, projected that the headline inflation rate would reach 1.25% in October and approximately 1.49% in the last quarter of 2024, during a press conference.
From January to September, the average annual headline inflation stood at 0.20%. On Monday, the ministry updated its full-year forecast to between 0.2% and 0.8%, up from the previous estimate of between zero and 1%.
The core CPI, which excludes volatile food and energy prices, rose by 0.77% in September year-on-year, surpassing the poll prediction of a 0.72% increase.