Private consumption in Thailand continued its momentum in Oct, rising sequentially by 1.6% mom seasonally-adjusted (SA). Tourist arrivals surged to 20k in Oct, bringing the total arrivals in 10M21 up to 106k. We expect tourist arrivals pick up momentum going into the year end. Headline inflation surged to 2.4% yoy due to fresh food energy prices. The Thai Cabinet is considering allocating THB155bn to affected farmers.