CPI jumps 5.28% in Feb, beats forecast

CPI jumps 5.28% in Feb, beats forecast

A grocery vendor plays with his mobile phone in Yaowarat, Bangkok's Chinatown. (Photo: Bangkok Post)
A grocery vendor plays with his mobile phone in Yaowarat, Bangkok's Chinatown. (Photo: Bangkok Post)

Thailand's headline consumer price index (CPI) jumped more than expected by 5.28% in February from a year earlier, driven by higher energy prices, the Commerce Ministry said on Friday.

That compared with a forecast for a rise of 4.05% in a Reuters poll and followed January's 3.23% increase. 

The core CPI index was up 1.80% from a year earlier, also beating a forecast for a 0.62% rise.

On Thursday, Bank of Thailand's assistant governor Chantavarn Sucharitakul said that inflation is less of a threat for Asia than for advanced economies due to slow wage growth and households' high debt that prevent them from piling into the housing market.

"Wage is not the source, housing is probably not," Ms Chantavarn said, on what could trigger higher inflation in Asean economies.

"Supply disruption is not going to add much to the inflation story" either, as manufacturers in the region produce components of goods rather than their own brands, she said in an online seminar.


Do you like the content of this article?
COMMENT (10)

Russian 'forever'

Vladimir Putin formally annexes four occupied regions in Ukraine “forever” and repeats warnings that Russia will use all available means to defend the territories.

30 Sep 2022

Activists call for major anti-Prayut rally on Saturday

Pro-democracy protest leaders have called for people to wear black for seven days and to rally at Victory Monument on Saturday to express their rejection of the Constitutional Court ruling that Prime Minister Prayut Chan-o-cha's term has not reached its eight-year limit.

30 Sep 2022

Pheu Thai disagrees with Prayut ruling

The opposition Pheu Thai Party has expressed disagreement with the reasoning behind the Constitutional Court ruling that Gen Prayut Chan-o-cha’s tenure as prime minister did not begin until 2017.

30 Sep 2022