Prices up 4.19% on year in November
Play
Thai consumer price index in November grew steadily by 4.19 per cent year on year, boosted significantly by higher food prices and logistics cost during severe flooding, according to the Commerce Ministry.
Compared to October, November's inflation went up 0.21 per cent.
Inflation in the first 11 months of this year was up by 3.83 per cent, close to the ministry's annual forecast of 3.8 percent.
Commerce Permanent Secretary Yanyong Phuangrach said inflation pace is expected to slow down this month, as flood situation improves while fuel prices are weakening.
The Bank of Thailand's Monetary Policy Committee yesterday cut the policy rate by only 0.25 basis points, against market expectation of a steeper cut, showed its worry over the economic rehabilitation efforts next year. It insisted that the cut will accommodate growth recovery. Next year, the central bank expects the economic growth of 4.8 per cent.
