May 5, 2020 / 3:55 AM / a month ago

Thai April headline CPI falls 2.99%, biggest drop in over 10 years

BANGKOK, May 5 (Reuters) - Thailand’s headline consumer price index (CPI) fell 2.99% in April from a year earlier, the largest decline in more than 10 years and sharply below expectations, commerce ministry data showed on Tuesday.

The reading compared with a forecast decline of 1.20% in a Reuters poll, and with March’s 0.54% decline. The drop was the largest since the depths of the global financial crisis in July 2009.

The central bank predicts the headline inflation rate will be minus 1.0% this year, compared with its target range of 1-3%.

The annual core inflation rate was 0.41%, compared with a forecast of 0.46%, and March’s 0.54%. (Reporting by Kitiphong Thaichareon; Writing Orathai Sriring; Editing by)

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