Thai inflation accelerated in December for the first time in five months, adding to the case for the central bank to raise borrowing costs further.
An index of consumer prices rose 3 percent from a year earlier after climbing 2.8 percent in November, the Ministry of Commerce said Tuesday. That matched the median estimate of 12 economists in a Bloomberg News survey.
Thailand joined China and Taiwan in raising interest rates in December and signaled further increases this year as economic expansion stokes consumer price growth. The government said last week gross domestic product will advance 4.5 percent in 2011, easing from a 7.8 percent pace last year to a “normal pattern” due to moderating exports.