Thai inflation drops to 14-month low

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BANGKOK, Dec 1 (AFP): Thailand's inflation dropped to a 14-month low of 2.2 per cent in November despite the rising cost of food, as global oil prices continued to fall, the commerce ministry said today.
The figure was down from 3.9 per cent year-on-year inflation in October and is at it lowest since September last year.
"The main reason that caused lower inflation in November is that fuel prices in Thailand dropped, following a continuous fall in global crude oil prices," said Siripol Yodmaungcharoen, permanent secretary of the commerce ministry.
Inflation had reached a 10-year-high of 9.2 per cent in July prompting the Bank of Thailand to cut interest rates by 25 basis points to 3.75 per cent in August.
The easing of inflation over the past four months has prompted speculation of a hike when the central bank's rate-setting committee meets Wednesday.