BANGKOK, April 5 (Xinhua) -- Thailand's consumer inflation growth eased to its lowest level in 15 months in March, aided by lower energy and food prices, official data showed on Wednesday.
The country's Consumer Price Index (CPI), a key indicator of inflation, slowed for three straight months in March to 2.83 percent year on year, down from a 3.79-percent increase in the previous month, according to the Ministry of Commerce.
For the first time in 15 months, the headline inflation in Thailand has fallen within the target range of 1 percent to 3 percent set by the Bank of Thailand.
The core CPI, which excludes raw food and energy prices, rose 1.75 percent year on year, down from an increase of 1.93 percent a month earlier.
The ministry expects headline inflation to ease further in the second quarter of 2023 due to lower oil prices, export contraction, government supportive measures, policy rate hikes, and a high comparative base last year, said Wichanun Niwatjinda, deputy director-general of the ministry's Trade Policy and Strategy Office.
However, growing demand from the economic recovery, long holidays, and general election-related activities would affect the prices of goods and services, which should be closely monitored, Wichanun told a news conference.
The ministry expects headline inflation to range between 1.7 percent and 2.7 percent this year, down from a previous forecast of 2 percent to 3 percent, he said. ■