Food, oil prices drive inflation at 1.23% in October

Food, oil prices drive inflation at 1.23% in October

Oil prices played important roles in inflation last month, the Commerce Ministry said. (File photo)
Oil prices played important roles in inflation last month, the Commerce Ministry said. (File photo)

October inflation was 1.23% year-on-year on food and oil prices and inflation in the first 10 months of 2018 was 1.15% on food, beverage and energy prices, according to the Commerce Ministry.

The inflation trend continued for the 16th consecutive month last month, Pimchanok Vonkorporn, director of the ministry's Trade Policy and Strategy Office, said on Thursday.

Rises in the price of food and beverages were mainly in Bangkok and nearby provinces. The price of rice and flour-based products rose by 4.87% and meal prices went up by 2.15%.

Fuel prices soared by 11.98%, she said.

Farm prices declined and the Commerce Ministry expected inflation to run slowly for the rest of this year.

Inflation should come in at 1.25% for 2018, Ms Pimchanok said.


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