BANGKOK, 4th December 2018 (NNT) – The headline consumer price index rose for the 17th straight month in November, but at a slow pace, according to the Ministry of Commerce.

The Trade Policy and Strategy Office of the Commerce Ministry disclosed that the headline inflation rate was up by 0.94% in November compared to the same month last year. Despite the increase, the pace has been slow for three months in a row. In the first 11 months of 2018, the index rose 1.13%.

The office attributed the higher inflation rate to energy prices which have been rising for the past 24 months along with the price of food, alcoholic beverages, and other commodities. It added that in the past year, the prices of 222 products have been adjusted up, while 117 product prices are down, and 83 products remain unchanged.

The office projects this year’s inflation will grow at a rate of 1.12%, to be driven by agriculture related assistance measures by the government, the state welfare card program, and year-end spending.

As for 2019, the office predicts that the headline inflation rate will average at 1.2%, based on its assumption that the country’s GDP grows within the range of 3.5% and 4.5%, oil prices between 70 and 80 US dollar per barrel, and the Thai currency against the US dollar between 32.5 and 33.5 baht.

National News Bureau Of Thailand | Inflation rises for 17 consecutive months in November