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Nov inflation rate quickens to 0.21%, but below forecast

Nov inflation rate quickens to 0.21%, but below forecast

Thailand’s headline consumer price index (CPI) rose 0.21% in November from a year earlier, quickening from the previous month but lower than expectations, commerce ministry data showed on Monday.

A Reuters poll had forecast that the CPI would rise 0.34% in November year-on-year after October’s 0.11% increase, which was the lowest in more than two years.

November’s headline inflation remained below the Bank of Thailand’s (BoT) 1%-4% target range for a sixth straight month.

The annual core inflation rate was 0.47% in November, matching expectations, and compared with October’s 0.44%.

In January-November, headline inflation was 0.69% and core inflation was 0.53%.

The central bank cut its policy interest rate for the second time in three months by 25 basis points to a record low of 1.25%. It will review monetary policy on Dec 18.