Inflation grew at the slowest pace in more than five years in November, increasing just 1.26% from the same month a year ago as plummeting oil prices helped offset increases in food and beverage costs, the Commerce Ministry said Monday.
Ampawan Pichalai, commerce deputy permanent secretary, said the Consumer Price Index for November hit 107.19 points, down 0.12% from October. The 1.26% increase was the slowest since Oct. 2009 when it grew just four-tenths of a per cent.
The CPI for food and non-alcoholic beverage rose by 3.38% while non-food index slightly increased by 0.14%.
"Inflation in November rose at a slower pace thanks to the reduction in oil prices and government measures to corral living costs, resulting in a reduction in goods prices," she said.
For the year to date, inflation rose 2.02%. The ministry forecast that inflation would finish the year at 2.0%-2.8%.