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Thailand: May headline CPI rises 2.44% y/y, below forecast
The headline consumer price index (CPI) rose for a second straight month in May, up 2.44% from a year earlier, the Commerce Ministry said on Friday, slightly missing analysts’ expectations.
The figure, weighed down by government utility subsidies, compared with a forecast for a rise of 2.85% in a Reuters poll and followed April’s 3.41% increase.
The core CPI index was up 0.49% from a year earlier, versus a forecast for a 0.45% rise.
The headline CPI is expected to rise again in June, but at a slower pace partly due to the subsidies, Wichanun Niwatjinda, deputy director-general of the Trade Policy and Strategy Office, told a briefing.
CPI growth is expected at 2.3% year-on-year in the second quarter, before slowing to 1.59% in the third quarter and 1.35% in the fourth quarter due in part to energy prices and base effects, he said.
However, the pace may be lower than forecast if the government extends utility subsidies after June, he said.
In May, the core CPI index was up 0.49% from a year earlier, versus a forecast for a 0.45% rise and after April’s 0.30% increase.
In the January-May period, the headline CPI rose 0.83% from a year earlier, with the core CPI up 0.23%.
The ministry has forecast the headline inflation rate at 0.7% to 1.7% this year.
Source: https://www.bangkokpost.com/business/2126851/may-headline-cpi-rises-2-44-y-y-below-forecast