Inflation up 3.38% in September

 

 

Consumer prices went up 0.34 per cent from the previous month. 

In the first nine months of this year, inflation was up 2.94 per cent - well within the annualised target of 3-3.4 per cent. The range was revised from 3.38 per cent

 

Vatcharee Vimuktayon, permanent secretary, said that the ministry revised downward the target thanks to easing inflation. She also said that consumer product manufacturers also agreed to halt price increases until the end of this year, though the price maintenance system originally ended in September. 

 

The Bank of Thailand's Monetary Policy Committee will convene on October 17. There is an expectation that with easing inflation and export slowdown, the MPC may decide to cut the policy rate from 3 per cent. In the previous two meetings, some members of the MPC supported a rate cut, to spur the economy affected by weakening demand for Thai exports.