Thailand’s inflation rate rose 3.79% year on year in February, a 13-month low and less than the market’s projection of 4.1-4.2%, according to commerce ministry data released on Tuesday.
The headline consumer price index (CPI), a common measure of inflation, rose 3.79% in February, following a 5.02% increase in January.
Meanwhile, the core CPI index rose 1.93% year on year in February, compared to a 2.10% increase predicted.
The Commerce Ministry projected that inflation would be between 2% and 3% in 2023, with an average of 2.5%; this was in keeping with the current economic condition but may be revised if there were major changes.
According to the ministry, the inflation is on a downward trend this year, therefore the prices was seen slower than last year’s since energy costs have fallen due to weak global demand and the government’s stimulus package has begun to take effect.