Thai August headline CPI up 2.53% y/y, above forecast
Thailand's headline consumer price index rose 2.53% in August from ‌a year earlier, following an annual rise of 1.95% in the previous month, the commerce ministry said on Monday.
Thailand's headline consumer price index increased 2.53% year-over-year in August, surpassing market expectations of a 2.37% rise, according to the commerce ministry's report on Monday. This figures aligns with the central bank's desired inflation range of 1% to 3%. The core CPI, excluding volatile energy and fresh food prices, climbed 1.44% from a year ago, nearly matching the 1.39% projected by the poll.
Nantapong Chiralerspong, head of the Trade Policy and Strategy Office, stated that headline CPI will likely continue to rise. The ministry has kept its full-year inflation forecast for this year at 1.5% to 2.5%. Headline inflation is anticipated to be 2.37% in the third quarter and 2.70% in the final quarter of the year, as per Nantapong.
Bank of Thailand governor Vitai Ratanakorn said last week that monetary policy is currently fully accommodating and suitable for the economy. The central bank left its key interest rate untouched at 1.00% last month, citing low and uneven economic growth. The bank's next interest rate decision is scheduled for October 28.
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