Thailand's headline consumer price index (CPI) rose 5.89% in December from a year earlier, in line with analyst forecasts, but above the previous month driven by higher energy and food prices, government data showed on Thursday.
The index compared with a forecast for a 5.9% rise in December in a Reuters poll and followed November's 5.55% increase.
The pace remains well above the central bank's target range of 1% to 3%, reinforcing expectations that the central bank will raise itsThe core CPI index was up 3.23% in December from a year ago,the ministry said, versus a forecast rise of 3.28%,Headline inflation is expected to slow to 2% to 3% in 2023, helped by a high base and a global slowdown, senior commerce ministry official Poonpong Naiyanapakorn told a briefing.
The index, however, is set to remain high in the first quarter this year due to a low base in the same period last year, but should not top 5%, he said.Our Standards:
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