Thailand’s headline inflation drops to 13-month low

Illustrative photo (Source: VNA)

Bangkok (VNA) - Thailand's headline inflation rose by 3.79% in February, the lowest in the past 13 months, thanks to easing energy and food prices, according to data from the Ministry of Commerce.

However, inflation remains above the Bank of Thailand's target range of 1%-3%, suggesting the bank is likely to raise its key interest rate again at its next meeting on March 29 to get inflation back within the target.

The Ministry of Commerce is projecting inflation to slow down in March and maintains its forecast for headline inflation at 2% to 3% in 2023.

In 2022, the country’s headline inflation hit a 24-year high of 6.08%./.

VNA