BANGKOK, Dec. 4 (Xinhua) -- Thailand's headline inflation picked up in November but remained below the central bank's target, driven by higher food and energy prices, official data showed on Wednesday.
The consumer price index (CPI) rose 0.95 percent last month from a year earlier, up from a 0.83 percent increase in October, according to the Ministry of Commerce.
The November inflation rate was below the Bank of Thailand's target range of 1-3 percent for the sixth straight month.
The core CPI, which excludes raw food and energy prices, increased 0.80 percent year-on-year in November, edging up from a 0.77 percent gain in the previous month and making its highest reading since July 2023.
For the first 11 months of 2024, the headline CPI rose 0.32 percent compared to the same period last year.
The ministry maintains its headline CPI projection for 2024 to range between 0.2 percent and 0.8 percent.
Headline inflation growth is expected to quicken in the range of 0.3 percent to 1.3 percent next year, thanks to an improved Thai economy fueled by growing private investment and consumption, said Poonpong Naiyanapakorn, director general of the ministry's trade policy and strategy office.
A recovery in the vital tourism sector, which helps boost demand for goods and services, along with increased public spending due to the government's economic stimulus measures, also contributes to inflation growth, Poonpong told a news conference. ■
