The consumer price index (CPI) rose for a seventh consecutive month in October, up 0.83% year-on-year, driven by higher prices of food, diesel and electricity.
Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office (TPSO), said headline inflation was 0.83% in October year-on-year.
He said the rise was mainly based on a surge in food prices, especially fresh vegetables and fruit.
In addition, the prices of diesel and electricity increased from a low base last year as a result of the government's energy subsidy.
However, the prices of gasohol and gasoline fell, in line with global oil prices.
As for other goods and services, their prices moved in a normal direction, said Mr Poonpong.
The CPI in October compared with September fell by 0.06% month-on-month, largely attributed to a 0.11% decrease in the non-food and beverages category.
The average CPI over the past 10 months rose by 0.26% year-on-year.
Core inflation (excluding fresh food and energy) increased by 0.77% year-on-year for the period.
As for November, TPSO predicts headline inflation will increase based on three key factors.
First, the price ceiling of diesel at 33 baht per litre is higher than the same period last year because of the termination of the government's support measures for fuel.
Second, household electricity prices have increased because of a low base last year as state support measures for electricity costs were reduced this year.
Finally, the prices of products and services related to tourism have risen, especially airfares, in line with the high season.
However, Mr Poonpong said some factors could temper inflation.
For instance, the global crude oil price is lower than last year.
The current average price is US$70 per barrel, compared with $80 in 2023.
Furthermore, the prices of fresh vegetables have returned to normal levels as the impact of temporary factors such as flooding and heavy rainfall in some areas of the country has ended.
Lastly, major wholesalers and retailers are likely to continue organising marketing promotions following the government's implementation of the first round of stimulus measures.
The Commerce Ministry predicts headline inflation this year will fall within a range of 0.2% to 0.8%, averaging 0.5%, aligning with economic circumstances.