January headline CPI drops 1.11% y/y, lowest in nearly 3 years

January headline CPI drops 1.11% y/y, lowest in nearly 3 years

People buy food items in Bangkok’s Yaowarat neighbourhood on Jan 20. The Commerce Ministry said headline inflation, gauged by the consumer price index, stood at  1.11% year-on-year in January. (Photo: Apichart Jinakul)
People buy food items in Bangkok’s Yaowarat neighbourhood on Jan 20. The Commerce Ministry said headline inflation, gauged by the consumer price index, stood at 1.11% year-on-year in January. (Photo: Apichart Jinakul)

Thailand's annual consumer inflation rate fell to its lowest in 35 months in January, the Commerce Ministry said on Monday.

The figure compared with a forecast fall of 0.82% for January in a Reuters poll.

The core CPI increased 0.52% year-on-year in January, versus a forecast rise of 0.57%.

The decline in January was the fourth in as many months and was driven by government energy subsidies, lower food prices, and a high base effect from last year, the ministry said.

It was the ninth straight month that headline CPI was below the central bank's target range of 1% to 3%.

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