October CPI Stable; To Pick Up In The Coming Months

Economic Research	02 November 2016
Thailand
Economic Highlights
October CPI Stable; To Pick Up In The Coming Months Thailand’s consumer price index (CPI) rose 0.3% y-o-y in October, easing marginally from a 0.4% gain the month before. The moderation in growth was driven by a slower increase in food prices. However, costs of non-food & beverage items remained flat in October, after dropping 0.2% y-o-y the month before, cushioning some of the downside. Core CPI grew 0.7% y-o-y in October, unchanged the month before. We continue to expect CPI to pick up in the last two months of the year, supported by rising energy prices and stable consumer spending. We maintain our projection for CPI to rise 0.3% this year, from -0.9% in 2015. In addition, we do not expect any changes to the policy rate at the next monetary policy committee (MPC) and throughout the year. Economist:  Ng Kee Chou  | +603 9280 2179
To access our recent reports please click on the links below: 01 November: Broad Money Slows But Private Credit Demand Starts To Stir 01 November: Thai Manufacturing Slips In 3Q; Set To Pick Up In 4Q 27 October: September Exports Moderated; Still Positive For 3Q 19 October: “Greatest Sorrow” To Dent But Not Derail Economic Growth 04 October: September Inflation Picked Up On Higher Energy Costs 04 October: Broad Money Growth Stable Despite Easing Public Disbursements