By Nopparat Chaichalearmmongkol

BANGKOK--Thailand's consumer prices rose for the seventh straight month in October on the back of higher oil prices, the Commerce Ministry said Tuesday.

The country's headline consumer price index rose 0.34% in October from a year earlier, though they increased at a slower pace compared with a 0.38% rise in September, according to the ministry's report.

Sequentially, consumer prices edged up 0.16% in October, compared with a 0.04% increase the month before.

The latest inflation readings fell short of median forecasts for a 0.50% on-year rise in the CPI and a 0.32% gain from the previous month by economists polled by The Wall Street Journal.

Core inflation, which removes volatile food and energy prices, increased 0.74% in October from a year earlier, compared with a 0.75% rise the previous month. On a sequential basis, Thailand's core CPI inched up 0.04%, marginally up from a 0.02% on-month climb in September.

The poll's median forecasts for core inflation were for a 0.76% year-over-year rise and a 0.05% month-over-month increase.

The latest price data suggest inflation remains sufficiently benign and far below the Bank of Thailand's target range of 1% to 4%.

The Commerce Ministry has maintained its 2016 inflationary target of between 0% and 1%.

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(END) Dow Jones Newswires

November 01, 2016 00:12 ET (04:12 GMT)

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