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Thailand expects this year’s inflation down

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

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

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

The Ministry of Commerce announced on February 6 that lastmonth’s consumer price index (CPI), a key indicator of consumer inflation, rose5.02% from a year earlier, down from 5.89% in the previous month and markingthe lowest growth since April 2022.

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

The ministry also expected the headline inflation growth torange 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%./.
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