Thailand’s headline inflation surged over 1% in March

“The SCB Economics Intelligent Centre has revised down its forecast for average headline inflation in 2019 to 0.9% year on year, a slight decline from the previous forecast of 1.0%year on year.”

Thailand’s headline inflation surged to 1.24%, year on year, during March. This is up from 0.73%, year on year, in the previous month. Food and energy prices are the main drivers for inflation growth.

The raw food price index increased by 3.75% as the prices rose for rice flour and cereal products, meat and fruit and vegetables. The drought in Thailand’s agricultural regions also started to bite, causing fruit and vegetable prices to increase – the first rises in 10 months.

Meanwhile, energy prices rebounded with a growth of 2.07% based on rising global crude prices, after dropping for 3 consecutive months.

Core inflation stands at 0.58%, year on year, stable from 0.60%, year on year, in the previous month following stagnated prepared food, housing rent and medical and personal care price index.

SOURCE: scbeic.com