Thai Feb headline CPI falls 0.77% y/y, slightly less than expected (updated)

CPI SA

05/03/2024 03:48

(Adds details from paragraph 3 onwards)
       BANGKOK, March 5 (Reuters) - Thailand's headline
consumer price index (CPI)  THCPI=ECI  dropped by 0.77% in
February from a year earlier, a fifth consecutive month of
falls, the commerce ministry said on Tuesday.
    The figure compared with a 1.11% year-on-year drop the
previous month. A Reuters poll had forecast a fall of 0.8% for
February.
    The core CPI  THCPIX=ECI  increased 0.43% year-on-year in
February, versus a forecast rise of 0.5%.
    The price decline was driven by lower prices of fresh food
and meat from market supply, Poonpong Naiyanapakorn, the
Director of Trade Policy and Strategy Office, told a briefing. 
    Electricity, diesel and fuel prices were also lower due to
government subsidies, he said, adding that March inflation is
expected to continue a downwards trend. 
    In the January-February period, the headline CPI dropped
0.94% year-on-year, while the core CPI rose 0.47%.  
    The commerce ministry predicts headline inflation for 2024
will be between -0.3% and +1.7%, with a midpoint of 0.7%. This
rate aligns with the current economic situation, it said. 

 (Reporting by Orathai Sriring and Kitiphong Thaichareon;
Writing by Chayut Setboonsarng; Editing by Martin Petty)
 ((orathai.sriring@tr.com))