Sept inflation beats forecast as state subsidies end
published : 5 Oct 2021 at 14:16
The headline consumer price index (CPI) rose more than expected in September as government utility subsidies ended and energy prices increased, the Commerce Ministry said on Tuesday.
The CPI rose 1.68% in September year-on-year, the most in four months, compared with a forecast for a rise of 0.70% in a Reuters poll. It followed August's 0.02% dip.
October's CPI is expected to be similar to September's pace, ministry official Wichanun Niwatjinda told a news conference on Thursday.
Consumer prices in the fourth quarter are likely to increase further, driven by higher oil prices, improved economic activity after the easing of coronavirus restrictions and a weaker baht currency, he said.
"Our inflation is not high like other countries because of government support measures," he said, adding main inflation was expected at 0.8% to 1.2% this year, barring additional government measures to reduce living costs.
In September, the core CPI index was up 0.19% from a year earlier, compared with a forecast for a 0.20% rise.
In the January-September period, headline CPI rose 0.83% from a year earlier, with the core rate up 0.23%.