Thailand’s April headline inflation lowest in 16 months

Illustrative image (Photo: VOV Bangkok)

Bangkok (VNA) – Thailand recorded its headline inflation dropping to a 16-month low in April, close to expectations due to lower energy and food prices and a high base in 2022, its Commerce Ministry said on May 3.

The headline consumer price index (CPI) last month rose 2.67% from a year earlier, compared with a forecast rise of 2.7% in a Reuters poll and an increase of 2.83% in March.

The core CPI was up 1.66% in April from the same period last year and under a forecast increase of 1.7%.

Headline inflation returned to the Bank of Thailand’s target range of 1% - 3% for the second month in a row. The Thai Commerce Ministry said headline inflation should fall sharply in May.

In March, the Bank of Thailand raised its policy interest rate by a quarter point to 1.75%, saying that its policy tightening would continue since inflation risks persisted.

Last month, the Commerce Ministry cut its forecast for this year’s headline inflation to 1.7% - 2.7%, down from a previous forecast of 2% - 3%./.

VNA