Thailand expects this year’s inflation down

07/02/2023 10:19

The Thai Government predicts inflation to decline further this year, as the headline inflation in January cooled to its lowest rate in nine months.

Thailand expects this year’s inflation down ảnh 1

People shop for street food in Chinatown - Illustrative image (Photo: Reuters)

Bangkok (VNA) - The Thai Government predicts inflation to decline further this year, as the headline inflation in January cooled to its lowest rate in nine months.

The Ministry of Commerce announced on February 6 that last month’s consumer price index (CPI), a key indicator of consumer inflation, rose 5.02% from a year earlier, down from 5.89% in the previous month and marking the lowest growth since April 2022.

The headline inflation growth is projected to be below 5% in February, helped by growing domestic demand from the tourism boom, the ministry's Trade Policy and Strategy Office deputy director-general, Wichanun Niwatjinda, said.

The ministry also expected the headline inflation growth to range between 2 and 3% this year, he added.

In 2022, headline inflation hit a 24-year high of 6.08%, with the core rate at 2.51%./.

VNA