Thailand’s February headline CPI drops 0.88% on year, more than forecast
Headline inflation may rise to between 1 to 3 per cent this year
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[BANGKOK] Thailand‘s headline consumer price index dropped 0.88 per cent in February from a year earlier, following an annual fall of 0.66 per cent in the previous month, the commerce ministry said on Thursday.
Headline consumer prices fell due to lower energy and electricity prices as well as government measures to cut food prices.
The reading compared with a forecast decline of 0.5 per cent in a Reuters poll, and remained well below the central bank’s target inflation range of 1 per cent to 3 per cent.
March headline CPI may fall by a lower rate compared to February, Nantapong Chiralerspong, head of the Trade Policy and Strategy Office, told in a briefing.
Headline inflation may rise to between 1 to 3 per cent this year, depending on the extent of the Middle East conflict and its impact on oil prices, Nantapong said.
The situation in the Middle East is unpredictable, he added.
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The core CPI, which excludes volatile energy and fresh food prices, rose 0.56 per cent in February compared to a year earlier.
The ministry has said there is no deflation yet as the core inflation rate remains positive. REUTERS
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