Thai Inflation Drops 0.77% in February 2024

Thailand’s headline consumer price index (CPI) fell 0.77% in February from a year earlier, and also compared to a 1.11% year-on-year drop in the previous month, according to the data released by the commerce ministry on Tuesday.

The figure compared with an expectation for a drop of 0.8% for February in a Reuters poll. Meanwhile, the core CPI, which excludes the volatile food and energy prices, increased 0.43% year-on-year in February, compared to a forecast rise of 0.5%.

The Commerce Ministry added that the headline inflation is seen dropping further in March and should be around -0.7 to -0.8% in the first quarter of this year. Still, the falling inflation did not post a worrisome sign for the Thai economy.