Thailand’s Headline Inflation Slows to 5.02% YoY in January

Data released by Thailand’s Commerce Ministry on Monday showed that the country’s headline consumer price index (CPI) climbed 5.02% in January from a year earlier, which was lower than what was expected by economists.

The January result came after a 5.89% gain in December and was lower than the 5.12% increase predicted by a Reuters poll. In January, the core CPI index rose 3.04% from the same month a year ago, below the 3.10% increase that had been anticipated.

Phillip Securities believes that slower inflation will strengthen purchasing power and increase domestic spending, hence the brokerage recommended “Speculative Buy” on spending plays such as AEONTS, BJC, CENTEL, CRC, HMPRO, KTC, MAKRO, SNNP, and WARRIX.