The Commerce Ministry has revised its annual headline inflation forecast to a range of 0.8% to 1.2% (with an average of 1%), narrowing from 0.7% to 1.7% (with an average of 1.2%) earlier. The ministry expects the inflation rate will expand in the range of 1.4-1.8% in the fourth quarter from the corresponding period last year. Core CPI, which excludes raw food and energy prices, rose 0.19% year-on-year in September, up from 0.07% in the previous month. For the third quarter of 2021, the headline inflation rose by 2.36% year-on-year compared to the third quarter of last year and rose 0.74% quarter-on-quarter compared to the previous quarter this year. For the first nine months this year, average headline inflation was 0.83% year-on-year and core inflation 0.23%.
