Inflation up 2.83% in March, slowest pace in 15 months
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Inflation up 2.83% in March, slowest pace in 15 months

A customer buys vegetables from a vendor at Bang Khong Market in Pak Nam, Samut Prakan province. (Photo: Somchai Poomlard)
A customer buys vegetables from a vendor at Bang Khong Market in Pak Nam, Samut Prakan province. (Photo: Somchai Poomlard)

Thailand's headline consumer price index (CPI) rose a less than forecast 2.83% in March from a year earlier, the slowest pace in 15 months due to lower energy and food prices, the Commerce Ministry said on Wednesday.

The reading compared with a forecast rise of 3.30% in March in a Reuters poll. The core CPI index was up 1.75% in March from a year ago, versus a forecast increase of 1.82%.

Headline inflation returned to the Bank of Thailand's (BoT) target range of 1% to 3% for the first time in 15 months.

The Commerce Ministry forecast inflation to fall further in the second quarter, helped by lower oil prices, government support measures and a high base last year, Trade Policy and Strategy Office deputy director-general Wichanun Niwatjinda told a news conference.

The ministry now predicts headline inflation to be 1.7% to 2.7% this year, down from a previous forecast of 2% to 3%, the ministry said in a statement.

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