BANGKOK (Reuters) – Energy and food prices fell and 98, the Commerce Ministry said on Tuesday.
The headline consumer price index (CPI) rose by 0. 53 May’s year-on-year growth of 1.66 was lower than forecasts in a Reuters poll of 1.70% and 4.0%. 2. 70 % year-on-year growth for the month.
Core CPI rose 1.53% YoY in May, below expectations for a 1.6% rise and below April’s rise1 .66% up.
Headline inflation was within the central bank’s 1% target range to 3% for the third straight month.
Headline inflation will ease further in May and contract in June, ministry official Wichanun Niwatjinda told a news conference.
Wichanun added that lower commodity and energy prices, coupled with a higher base last year, were attributed to the decline.
The Commerce Department forecasts headline inflation to average between 1.7% and 2.7% this year.
From January to May, the ministry said the annual headline inflation rate was 2.70% during the period , the core inflation rate is 1.98%.
Last week, Thailand’s central bank raised its policy rate by 25 basis points to 2%, citing core inflation that remained stubbornly high. It will review rates again on August 2.