Thailand’s headline inflation rises for first time in seven months

BANGKOK (XINHUA) – Thailand’s headline inflation increased for the first time in seven months in April due to soaring fuel prices and higher prices of agricultural products resulting from the extremely hot weather, official data showed yesterday.

The consumer price index (CPI) edged up 0.19 per cent last month from a year earlier, rebounding from a 0.47-per cent fall in March, according to the Ministry of Commerce.

The April inflation was below the Bank of Thailand’s target range of one-three per cent for the 12th month.

The core CPI, which excludes raw food and energy prices, rose 0.37 per cent in April, unchanged from the previous month and marking the lowest rate since December 2021.

For the first four months of 2024, the headline CPI declined by 0.55 per cent compared to the same period last year, said Ministry of Trade Policy and Strategy Office Director General Poonpong Naiyanapakorn.

Headline inflation is expected to pick up this month owing to last year’s low base for electricity prices from government subsidies and the rising prices of agricultural products on the back of intense heat and drought in farming areas, coupled with a weak Thai baht, Poonpong told a news conference.

He also noted that the ministry maintains its headline CPI projection for 2024 at zero to one per cent.