Thailand's headline consumer price index dropped for the sixth straight month in March, the commerce ministry said, and was outside the central bank's target range for the 11th straight month.
The headline consumer price index (CPI) in March fell 0.47% from a year earlier, compared with a forecast drop of 0.40% in a Reuters poll and outside the central bank's target range of 1% to 3%.
The drop was driven by food and energy prices due to government cost of living subsidies, Director of Trade Policy and Strategy Office, Poonpong Naiyanapakorn told a press conference.
However, global energy prices are likely to put upwards pressure on inflation next month.
"April (numbers) will still be negative, but much smaller," he said, adding that inflation will turn positive to 0.50% to 0.60% in the second and third quarters due to higher world oil prices and weak baht.
In March, core CPI, which excludes volatile food and energy prices, rose 0.37% year-on-year, compared to a forecast increase of 0.40% in the poll.
The ministry tightened 2024 inflation forecast to 0.00%-1.00% from -0.30% to +1.7% seen previously.