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Friday, March 31, 2023

Thai February headline inflation rate seen rising to 0.58 percent: Reuters poll

Thai February headline inflation rate seen rising to 0.58 percent: Reuters poll© Reuters. A mother and her daughter shop for bananas at a market in Bangkok

BANGKOK (Reuters) – Thailand’s annual headline inflation rate in February likely accelerated from the previous month, but stayed below the central bank’s target range for a fourth straight month, while factory output growth probably picked up in January, a Reuters poll showed.

The median forecast of 10 economists was for the headline consumer price index (CPI) to rise 0.58 percent in February from a year earlier after January’s 0.27 percent increase.

The Bank of Thailand (BOT) has forecast 2019 headline inflation of 1.0 percent, against its 1-4 percent target range.

The core inflation rate, which strips out energy and fresh food prices, was seen at 0.70 percent in February, according to the poll. It was 0.69 percent in January.

Thailand’s manufacturing production index in January probably rose 1.1 percent from a year earlier, after December’s 0.75 percent increase.

Earlier this month, the BOT left its benchmark interest rate unchanged after tightening in December for the first time in more than seven years.

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Source: Investing.com

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