Thailand: Inflation moderates in September
October 2, 2013
In September, consumer prices increased 0.16% over the previous month, which contrasted the virtually flat reading recorded in August. According to the Ministry of Commerce, the monthly figure came on the back of increasing prices for non-food and beverages as well as for housing and furnishing, which offset the decrease in vehicle prices.
Annual headline inflation edged down from 1.60% in August to 1.40% in September, which was slightly below the 1.56% rise the markets had expected.
The core inflation index, which excludes energy and fresh food prices, remained at August's 0.1%. In addition, annual core inflation fell from 0.8% in August to 0.6% in September and thus core inflation remains within the Central Bank's 0.5%-3.0% target range.
The Bank of Thailand projects inflation to average 2.3% in 2013 and 2.6% in 2014. FocusEconomics Consensus Forecast panelists expect inflation to average 2.8% in 2013, which is down 0.1 percentage points from last month's Consensus. For 2014, panelists see average inflation at 3.1%.
Author: Dirina Mançellari, Senior Economist