Thailand’s Inflation Slows for Second Month in a Row in October

Thailand’s inflation rate fell to 5.98% in October from 6.41% the previous month, according to official data released on Monday, slightly lower than the 6.00% expectation.

The consumer price index (CPI), a key inflation gauge, was at 108.06 in October, and the Ministry of Commerce noted that this led to headline inflation of 5.98%, a slowdown for the second consecutive month.

Core consumer prices increased 3.17% year on year in October, the most since July 2008, following a 3.12% gain in September and falling short of the 3.2% consensus. On a monthly basis, consumer prices increased by 0.33% in October, the third straight month of gains and the steepest growth in four months, after rising 0.22% in September.

“The inflation situation is slowing,” senior commerce official Poonpong Naiyanapakorn told a briefing.

“It is expected to slow in the remaining two months.”