Thai inflation up 2.82% in Sept, below forecast
Thailand's headline consumer price index (CPI) rose 2.82% in September from a year earlier, after a 2.53% ‌annual increase in the previous month, driven by higher fuel and food prices, the Commerce Ministry reported on Tuesday.
Thailand's consumer price index (CPI) climbed 2.82% in September compared to the same period last year, according to the Commerce Ministry's report on Tuesday. This increase was fueled by surging fuel and food prices, outpacing the previous month's 2.53% rise. The figure fell short of market expectations, which had predicted a 3.06% surge based on a Reuters poll, but remained within the central bank's target range of 1% to 3%.
The ministry projects the headline CPI to continue its upward trajectory in the fourth quarter, with October's acceleration anticipated. Nantapong Chiralerspong, head of the ministry's Trade Policy and Strategy Office, noted during a briefing that recent flooding would likely exert only a minor pressure on inflation. The ministry also revised its 2026 inflation outlook to a range of 1.8% to 2.2%, down from the earlier estimate of 1.5% to 2.5%, taking into account the flood's impact.
From January to September, headline inflation averaged 1.54%. The core CPI, which excludes volatile energy and fresh food prices, saw a 1.50% rise in September, matching the forecasted 1.54% increase. Earlier, Don Nakornthab, an assistant central bank governor, told Reuters that monetary policy is "very, very accommodative." The central bank maintained its key interest rate at 1.00% during its August review, with the next interest rate decision set for October 28, 2026.
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