BANGKOK, 1st November 2018 (NNT) – Soaring energy prices have prompted the inflation rate in October to expand 1.23 percent. However, the rate was slower than that of the previous month.

The Director-General of the Trade Policy and Strategy Office, Ms Pimchanok Vonkorpon, has reported that the Consumer Price Index or inflation this past October posted growth for the 16th month in a row at a rate of 1.23 percent. She attributed the continued uptrend in inflation to higher prices for energy, food and non-alcoholic beverages.

The latest figure nonetheless, was a decrease from September’s 1.33 percent rise, due to downward adjustments in the prices of vegetables and fruit, tobacco, alcoholic beverages and construction materials.

According to surveys, 216 products, including rice, cooking gas and mackerel, saw their prices go up in October. Stable prices were found in 80 products and price decreases in 126 others.

The average inflation rate for the first ten months of this year stands at 1.15 percent. As inflation is expected to again rise during the last two months, the whole year’s average will likely settle at 1.25 percent, which is within the targeted range of 0.8-1.6 percent.

National News Bureau Of Thailand | Oct inflation grows 1.23% in line with high energy prices