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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
THAILAND
Thailand CPI inflation for September printed lower than expected as it heads towards zero. Headline CPI eased to 0.3% y/y from 0.9% in August and core to 0.6% from 0.8%, the lowest since January 2022, and both well below the Bank of Thailand’s 1-3% target. These extremely low inflation prints are likely to confirm the signal from the BoT at its September meeting that it is ready to pause. USDTHB is off Wednesday high of 37.24 and is currently around 36.88. It fell on the weaker CPI data to 36.85.
- The ministry of commerce has cut its 2023 forecast moderately to 1-1.7% from 1-2% and it has said that there could be deflation in Q4.
- The cut in diesel and electricity taxes put downward pressure on inflation and should help to keep inflation low going forward.
- Food prices fell 0.1% y/y despite an increase in rice to 4.6% y/y from 2.5%. September global processed rice prices rose 7.1% m/m. Fruit & vegetable inflation was 0.5% y/y down from 5.9% and most of the other components were also lower.
- Non-food inflation eased to 0.6% from 1% in August driven by housing. Transportation rose though to 1.7% y/y from 0.3%.
Thailand CPI y/y%
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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