BANGKOK: Thailand’s headline consumer price index dropped for the sixth straight month in March, the commerce ministry said, and was outside the central bank’s target range for the 11th straight month.
The headline consumer price index (CPI) in March fell 0.47% from a year earlier, compared with a forecast drop of 0.40% in a Reuters poll and outside the central bank’s target range of 1% to 3%.
The decline was driven by government energy subsidies, consumer goods, and lower food prices, Director of Trade Policy and Strategy Office, Poonpong Naiyanapakorn told a press conference.
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“Inflation in Q2 is likely to be higher than in Q1 due to higher world oil prices and a weaker baht,” he said.
In March, core CPI, which excludes volatile food and energy prices, rose 0.37% year-on-year, compared to a forecast increase of 0.40% in the poll.
The ministry adjusted its 2024 inflation forecast to 0.00%-1.00% from -0.30% to +1.7% seen previously.
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