BANGKOK (Reuters) – Thailand’s headline inflation slowed in September from the previous month and came in below expectations, data showed on Wednesday, but above-target consumer prices reinforced expectations for further rate hikes.
The headline consumer price index (CPI) rose 6.60 yoy in September, down from 7. in August % increase, helped by lower prices for energy products, according to the Commerce Department.
This compares to the 6.60 percent increase forecast in a Reuters poll.
Core CPI rose 3.12% YoY in September, also lower than the expected 3.20%.
Inflation is expected to fall further in the fourth quarter of this year, the ministry said in a statement.
Last week, the Bank of Thailand raised its benchmark interest rate by 25 basis points to 1.% in a bid to rein in a multi-year high of inflation that has been battered point. It will next review rates in November 30, when most economists expect further gradual hikes.