By Nopparat Chaichalearmmongkol
BANGKOK--Thailand's consumer prices rose in November at the fastest pace this year, gaining for the eighth straight month on the back of higher oil prices, government data showed Thursday.
The headline consumer price index rose 0.6% in November from a year earlier, compared with a 0.34% gain in October, the Commerce Ministry said. However, on a monthly basis the CPI fell 0.06% in November compared with a 0.16% rise in October.
The year-over-year inflation reading was in line with median forecasts for a 0.6% increase by economists polled by The Wall Street Journal. The sequential reading came in slightly worse than the 0.01% drop forecast by economists in the poll.
In November, core consumer prices, which exclude volatile food and energy items, rose 0.72% from a year ago, compared with a 0.74% increase in October. Core CPI rose 0.03% sequentially, with the pace of growth slightly slowing from a 0.04% increase in the previous month.
The core CPI readings came in marginally lower than the poll's median forecasts for a 0.73% year-over-year rise and a 0.04% sequential increase.
The ministry still maintains its 2016 inflation rate forecast at between zero and 1.0%, while setting the 2017 estimate at between 1.5% and 2.0%.
Write to Nopparat Chaichalearmmongkol at email@example.com
(END) Dow Jones Newswires
November 30, 2016 23:36 ET (04:36 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.