Thailand's headline inflation rises for 1st time in 7 months

Tourists visit the Sanctuary of Truth Museum in Pattaya, Thailand, March 29, 2024. (Xinhua/Wang Teng)

BANGKOK, May 4 (Xinhua) -- Thailand's headline inflation increased for the first time in seven months in April due to soaring fuel prices and higher prices of agricultural products resulting from the extremely hot weather, official data showed on Friday.

The consumer price index (CPI) edged up 0.19 percent last month from a year earlier, rebounding from a 0.47-percent fall in March, according to the Ministry of Commerce.

The April inflation was below the Bank of Thailand's target range of 1-3 percent for the 12th month.

The core CPI, which excludes raw food and energy prices, rose 0.37 percent in April, unchanged from the previous month and marking the lowest rate since December 2021.

For the first four months of 2024, the headline CPI declined by 0.55 percent compared to the same period last year, said Poonpong Naiyanapakorn, director general of the ministry's Trade Policy and Strategy Office.

Headline inflation is expected to pick up in May owing to last year's low base for electricity prices from government subsidies and the rising prices of agricultural products on the back of intense heat and drought in farming areas, coupled with a weak Thai baht, Poonpong told a news conference.

He also noted that the ministry maintains its headline CPI projection for 2024 at 0-1 percent.■