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Thai Feb headline CPI drops 1.17% year-over-year, seen down again in March


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Thai Feb headline CPI drops 1.17% year-over-year, seen down again in March

 

2021-03-05T053532Z_1_LYNXMPEH2407Z_RTROPTP_4_THAILAND-ECONOMY-INFLATION.JPG

FILE PHOTO: A mother and her daughter shop for bananas at a market in Bangkok, Thailand, March 31, 2016. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand's headline consumer price index in February dropped a bigger than expected 1.17% from a year ago due to lower food prices and government measures to curb living costs, particularly utility bills, the commerce ministry said.

 

The February reading, marking a 12th straight month of decline, compared with a forecast fall of 0.20% in a Reuters poll and January's 0.34 decline.

 

Without the government measures, the index would have fallen only 0.12%, ministry official Phusit Ratanakul Sereroengrit told a briefing on Friday.

 

The main index is likely to fall again in March but at a slower pace, he said.

 

The ministry has forecast headline inflation at 0.7-1.7% this year, with prices picking up from the second quarter.

 

In February, the core CPI index rose 0.04% from a year earlier, compared with a forecast of a 0.17% increase.

 

In January-February, the headline CPI index dropped 0.75% from a year earlier, while the core rate rose 0.12%.

 

(Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Ed Davies)

 

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-- © Copyright Reuters 2021-03-08
 
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