The headline consumer price index (CPI) rose more than expected by 2.38% in October from a year earlier, driven by higher oil and vegetable prices, the Commece Ministry said on Friday.
The CPI climbed 2.38% in October from a year earlier, compared with a forecast for a rise of 1.91% in a Reuters poll and against September's 1.68% increase.
The CPI is likely to increase later this year, though not sharply, due in part to government measures to support oil Ronnarong Phoolpipat, director-general of the Trade Policy and Strategy Office, told a news conference.
It is projected to rise by 2.43% in the fourth quarter year-on-year, he said.
For 2021, the ministry is maintaining its forecast for headline inflation of 0.8% to 1.2%, he added.
In October, the core CPI index was up 0.21% from a year earlier, compared with a forecast for a 0.30% rise.
In the January-October period, the headline CPI rose 0.99% from a year earlier, with the core rate up 0.23%.