Thai headline inflation quickens in September, still below central bank target

Thailand's annual headline inflation quickened in September due mainly to higher prices of diesel and some vegetables, the commerce ministry said on Monday, and was still below the central bank's target range of 1% to 3%.

The headline consumer price index rose 0.61% in September from a year earlier, after August's annual increase of 0.35%, and missed a forecast rise of 0.80% in a Reuters poll.

The headline inflation rate is expected to be 1.25% in October and about 1.49% in the final quarter of 2024, Poonpong Naiyanapakorn, director of the trade policy and strategy office, told a press conference.

In the January to September period, average annual headline inflation was 0.20%. The commerce ministry on Monday revised its forecast for the full year to between 0.2% to 0.8%, from between zero and 1% seen earlier.

The core CPI, which excludes volatile food and energy prices, increased 0.77% in September from a year earlier, and slightly beat the poll forecast for a rise of 0.72%.