Thailand’s headline inflation cooled to its lowest rate in nine months and came in below analyst forecasts, helped by easing energy and food prices, with the commerce ministry predicting consumer prices will decline further this year. | Reuters
Still, the inflation rate remains above the central bank’s target range of 1 percent to 3 percent, suggesting the Bank of Thailand will raise its key interest rate further after hiking it at four consecutive meetings to try to bring prices back within target.
The core CPI index was up 3.04 percent in January from a year ago, versus a forecast rise of 3.10 percent. The BOT said earlier that a continuing gradual rate rise is an appropriate course for a policy consistent with growth and inflation. It will next review policy on March 29.Sharing a similar view, the commerce ministry is maintaining its forecast for headline inflation at 2 percent to 3 percent this year, having taken into account the upcoming elections and a rebound in tourism, Wichanun said.
The ministry predicts 22 million to 25 million foreign tourist arrivals this year, he said, adding higher tourist numbers would increase demand-side inflation.Your subscription could not be saved. Please try again.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global food prices drop for 10th straight month in Jan.Global food prices fell for the 10th consecutive month in January, the UN Food and Agriculture Organization (FAO) reported on Friday. The FAO Food Price Index averaged 131.2 points in January, down…
Read more »
Philippines logs 1,102 new COVID-19 cases from Jan. 30 to Feb.5 2023The Philippines logged 1,102 new COVID-19 cases from January 30 to February 5, 2023, the latest Department of Health bulletin has indicated. Last week&39;s weekly tally was 16% fewer than the 1,206 new cases recorded from January 23 to 29.
Read more »
DA eyes P125/kilo suggested retail price for onionsMANILA, Philippines — The Department of Agriculture (DA) is inclined to lower the suggested retail price (SRP) of onions to P125. DA deputy spokesperson Rex Estoperez said this in light of the
Read more »
Diesel price rollback may be at least P2.60/liter, gasoline P1.90/liter —industry sourceAn oil industry source on Sunday said motorists may expect price rollbacks of diesel and gasoline this week.
Read more »
Oil price rollback as much as P2/liter likely next Tuesday to snap 3-wk hikeDiesel will likely go down P2 a liter and gasoline by almost as much next week as oil companies adjust
Read more »