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Thailand Inflation March 2024

Thailand: Consumer prices record smallest fall since November 2023 in March

Consumer prices fell 0.5% year-on-year in March, following February’s 0.8% year-on-year fall. March’s figure represented the smallest drop in consumer prices since November 2023.

Annual average inflation fell to 0.1% in March (February: 0.4%). Meanwhile, core inflation was steady, coming in at February’s 0.4% in March.

Lastly, consumer prices increased 0.03% in March over the previous month, moderating from the 0.22% rise logged in February.

Commenting on the outlook, UOB’s Enrico Tanuwidjaja and Sathit Talaengsatya stated:

“The inflation rate should rebound in the periods ahead, likely from May, but weak underlying price pressures due primarily to a tepid overall economic activity will keep the headline inflation rate to hover around the lower bound of the central bank’s target range in 2024.”

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