Thailand's Consumer Price Inflation Rises To 3.63% In December
By Bhaskar Prasad | January 2, 2013 4:37 PM EST
Thailand's consumer price inflation rose at a higher rate than expected in December, indicating that the country’s inflationary pressures continue to increase to dent prospects for further loosening the monetary policy.
According to the data released Wednesday by Thailand’s Ministry of Commerce, the country’s CPI, which measures the change in the price of goods and services from the perspective of the consumer, rose 3.63 percent in December from 2.74 percent in November. Analysts were expecting that the CPI, which is a key way to measure changes in purchasing trends and inflation, would rise 3.23 percent.
This report comes after it was revealed last week that Thailand’s industrial output grew more than expected in November compared to that in the same month last year, which was dramatically hampered by floods. According to the data released last week by the Office of Industrial Economics of Thailand, the country’s industrial production, which measures the change in the total inflation-adjusted value of output produced by manufacturers, mines and utilities, rose 83.3 percent to 189.11 in November from a revised 36 percent in October.
However, it was reported in November that Thailand’s economic growth slowed in the third quarter, compared to that in the previous quarter. The data published November by the National Statistical Office of Thailand showed that the country’s gross domestic product, which measures the annualized change in inflation-adjusted value of all goods and services produced by the economy, grew 3 percent in the quarter ending Sept. 30, compared to that in the same period last year, down from a 4.4 percent growth in the second quarter.
The Bank of Thailand (BoT) has already noted that the downside risks to the global economy remained a key concern for Thailand’s central bank. While recent monetary policy easing measures among major economies supported the financial markets, the BoT viewed the global economic outlook as weak.
Considering that Thailand’s export-led growth model has been affected by the global economy, it can be expected that the BoT will further cut its policy rate in 2013. However, the rising inflation can be a major obstacle. Policymakers will soon have to clear their stance on whether they give priority for pro-growth measures or take steps to control inflation.
To contact the editor, e-mail:
Most Popular Slideshows
- Kendall Jenner Could Be Next Victoria's Secret Angel [PHOTOS]
- From Fat To Fit: Celebrities Who Were Overweight Before They Became The Beauties That They Are
- Taylor Swift Named People's Best Dressed Stars Of 2014 [PHOTOS]
- Champions League Results: Barcelona Barely Escapes With A Win, Chelsea Fails To Hold On To The Lead [PHOTOS]
Join the Conversation
- Ebola Update: Death Toll Reaches 2,461; US$1B Is Needed To Fight It, Says UN
- BC Teachers’ Strike Reaches Tentative Deal With Government, Date of Class Resumptions Still Not Sure
- Australia To Lose Hundreds Of Billions Worth Of Infrastructure Due To Rising Sea Levels
- Security for Pope Francis' Albania Trip At Status Quo, Won’t Be Reinforced Despite ISIS Threat – Vatican
- Air France Pilots’ Strike: Only 40% of Scheduled Wednesday Flights Will Operate
- iOS 8 Release Date Of Sept 17 Has Arrived: Update Begins At 10AM Pacific Time, Upgrade Your iDevices With iOS 7.1.2 First To Install iOS 8
- Google Nexus 6 Release Date on Q4 2014 Confirmed by T-Mobile Featuring Wi-Fi Calling
- Why Samsung Galaxy S5 Is Not The Best Smartphone To Purchase Now? If You Still Want To, Wait For A Month To Get It Cheap
- Apple iPad Air 2, iPad Mini 3 October Release Date Roundup: Freshly Leaked Protective Case Debuts Unique Vent Alongside Camera
- Canadian IS Jihadist Wants to ‘Play Soccer’ with Heads of US Decapitated Soldiers
- Warning to U.S. – ISIS Has Shot Down a Syrian Regime Fighter Jet
- Spice Dream Uno vs Xiaomi Redmi 1S: Android One Smartphone to Challenge The Existing Budget Friendly Smartphone