November 1, 2019 / 3:55 AM / 21 days ago

Thai Oct inflation slows to 0.11% Y/Y, lowest in more than 2 years

BANGKOK, Nov 1 (Reuters) - Thailand’s annual headline consumer price index (CPI) rose 0.11% in October from a year earlier, slowing from the previous month and undershooting expectation, commerce ministry data showed on Friday.

A Reuters poll had forecast the CPI would rise 0.31% in October year-on-year from September’s 0.32%.

October’s headline inflation was the lowest since the June 2017 CPI contraction of 0.05%, and stayed below the Bank of Thailand (BOT)’s 1%-4% target range for a fifth straight month.

The BOT has forecast headline inflation of 0.8% for this year, while the commerce ministry is expecting 0.7%-1.0%.

The annual core inflation rate was 0.44% in October, the same level as in the poll and in September.

In January-October, headline inflation was 0.74% and core inflation was 0.53%.

On Sept. 25, the BOT left its policy interest rate unchanged at 1.50%, after a surprise cut in August. It will next review monetary policy on Nov. 6. (Reporting by Kitiphong Thaichareon Writing Orathai Sriring Editing by)

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