Thai inflation returns to target for first time in seven months

A woman sits in a cafe in Bangkok. Thailand’s inflation returned to the central bank’s target range for the first time in seven months. - AFP

BANGKOK: Thailand’s inflation returned to the central bank’s target range for the first time in seven months, giving monetary authorities scope to fend off government calls for more rate cuts as global uncertainties mount.

Consumer prices rose 1.23% in December from a year ago, according to data released by the Commerce Ministry on Monday (Jan 6). The gauge, which has stayed below 1% for most of 2024, hit the Bank of Thailand’s (BOT) 1 -3% target for the first time since May.