BANGKOK, May 23 (Reuters): Thailand will try to keep inflation below 5% this year, its prime minister said on Monday, amid surging fuel prices and a fragile economic recovery.
The inflation rate in Thailand was still among the lowest in the world and the government would manage the price of goods as much as possible, Prayut Chan-ocha told a news conference.
"Many people are worried about inflation. The government is also worried and has already helped with this," he said.
Consumer prices rose 4.65% in April from a year earlier, down from a 5.73% jump the previous month, the fastest pace in 13 years.
Government measures including price controls, tax cuts, and subsidies have helped slow the rise.
Despite headline inflation breaching the central bank's target range of 1-3%, it is not expected to raise interest rates soon due to the slow recovery.
The central bank chief recently said the bank would ensure the recovery continues.
Last week, the state planning agency cut its 2022 economic growth outlook to 2.5% to 3.5% from 3.5% to 4.5% due to global uncertainty and inflation.
Last year's growth of 1.5% was among the slowest rate in the region. - AP