Inflation hits seven-month high in December but ends 2024 at four-year low
Headline inflation rose to 1.23% YoY (Nov: 0.95%), reaching the Bank of Thailand’s (BoT) target range of 1.0% - 3.0%, but fell short of the consensus forecast of 1.40%. Overall, inflation averaged 0.40% in 2024, marking the lowest in four years
- MoM (-0.18%; Nov: -0.13%): registered a fourth straight month of deflation and the lowest in six months.
- Core inflation (0.79% YoY; Nov: 0.80%): edged down after an uptick in the previous month.
Increase in transportation & communication costs drove inflation higher in December
- Transportation & communication (2.71%; Nov: 1.38%): increased to the highest level in 23 months, buoyed by higher diesel prices amid the low base effect from the previous year.
- Food and non-alcoholic beverages (1.28%; Nov: 1.28%): remained unchanged for the second straight month and at a five-month low, reflecting a stable domestic demand.
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