Inflation slowed to 3.32% year-on-year in October as government subsidies helped contain rising food and fuel prices.
That compares with a 3.38% increase reported for September.
Rising prices were mainly due to price gains both in food and drink, rising 3.35%, while non-food products gained 3.28% year-on-year.
The highest price increases for the month went to vegetables and fruits, tobacco and alcoholic drinks.
Inflation gained 0.13% in October from the previous month.
Core inflation, which excludes fresh food and fuel costs, was 1.83% in October from a year earlier, easing from 1.89% in September.
For the year to date, inflation rose 2.99% year-on-year, with core inflation at 2.15%.
Inflation is expected to average 3% over the next two months and 3.2% to 3.5% in the fourth quarter, due to the government's price controls and energy subsidies.
Price gains in 2012 may be close to 3.1%, said Permanent Secretary for Commerce Vatchari Vimooktayon.
Ms Vatchari added the ministry has closely monitored product prices and has yet to see any unusual price changes.
The only manufacturers to submit requests to raise their product prices have been soybean milk and fermented soy bean producers, which won approval earlier.