Thailand’s inflation surged at the slowest pace in 15 months in March due to lower energy and food prices, the commerce ministry said on Wednesday.
The headline Consumer Price Index (CPI) in Thailand increased 2.83% in March from the same month a year ago, which was lower than the 3.30% increase that was predicted in a Reuters poll. The core CPI index rose 1.75% from a year ago in March, compared to the expected growth of 1.82%.
For the first time in 15 months, headline inflation fell back within the central bank’s 1% to 3% target range.
Senior ministry official Wichanun Niwatjinda told a news conference that the commerce ministry expects inflation to fall further in the second quarter, given to decreasing oil prices, government support measures, and a high base from last year.
The ministry stated in a statement that it now expects headline inflation to be between 1.7% and 2.7% this year, down from its earlier prediction of 2% to 3%.
