Consumer price index (CPI) or inflation rate increased for the eighth consecutive month to 0.42% in February, according to the Commerce Ministry’s Trade Policy and Strategy Office (TPSO).
The increase was attributed to the back of a recovery in the people’s purchasing power and increased demand for products and services in the country.
Pimchanok Vonkorpon, the TPSO director, said the improved demand has caused prices for products and services, particularly those in Bangkok and other areas in the central region, to rise.
She said this year’s CPI is likely to range 0.71-1.7 percent in line with the economic recovery.
The CPI is expected to average 0.6% in the first quarter and to continue edging up in the second quarter, citing long holidays during the Songkran Festival in mid-April and the recent minimum wage hike which is to become effective next month.