Consumer inflation stayed high across Asia in January and could pick up further in some countries in coming months, leaving their central banks with few options to cushion the economies from the global slowdown.

Growth in consumer prices moderated in January on a year-on-year basis as expected in South Korea, Thailand and Indonesia, but prices picked up from December, data showed today.

With worries about higher oil prices keeping inflation expectations high, central banks have little room to ease policy and boost domestic demand to make up for a weakening exports because of the European debt crisis.