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Thailand’s inflation lowest in 15 months

The Thailand’s Ministry of Commerce on April 5 announced that the country’s headline consumer price index rose 2.83% in March year-on-year, the lowest rate in 15 months due to lower energy and food prices.
Thailand’s inflation lowest in 15 months ảnh 1The banknotes of the Thai baht (THB) (Photo: reuters.com)

Bangkok (VNA) – The Thailand’s Ministry of Commerce on April 5 announcedthat the country’s headline consumer price index rose 2.83% in Marchyear-on-year, the lowest rate in 15 months due to lower energy and food prices.

The core CPI index was up 1.75% in March from a yearago, the slowest pace in 14 months and under a forecast increase of 1.82%.

Headline inflation returned to the Central Bank'starget range of 1% to 3% for the first time in 15 months, and the commerceministry expects it to remain within the range for the rest of this year.

Senior ministry official Wichanun Niwatjinda forecast that the headline inflation will fall further later this year, helped by loweroil prices and government support measures. The ministry also lower inflation from2-3% to around 1.7-2.7%.

In an effort to curb inflation, the Thailand’s MonetaryPolicy Committee (MPC) agreed to raise policy rate by 0.25 percentage pointsfrom 1.5% to 1.75%.

The MPC also forecast that Thailand'seconomy is expected to grow by 3.6% -3.8% this year, up from 2.6% last year,supported by stronger private consumption and recovery in the tourism sector,among others./.

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