Thailand aiming to keep inflation under 5% this year, says PM Prayut


The inflation rate in Thailand was still among the lowest in the world and the Thai govt would manage the price of goods as much as possible, Prayut Chan-ocha told a news conference.- AFP

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

Article type: free
User access status:
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Thailand , Prayut , Inflation , Below %% , 2022

   

Next In Aseanplus News

How Singapore has responded as consumer prices reach 13-year high
China Covid outbreaks widen as mass testing finds more cases Premium
Malaysia lifts 20-year ban on Thai rice flour exports
China's garment industry records revenue growth in Jan-May
Asean mulls options on Myanmar
Karen refugees flee across border after junta airstrike
Marcos vetoes sister’s economic zone Bill
Koh Pha-ngan the best workation site
Wang Yi in Myanmar
‘Slim chance’ of finding missing sailors

Others Also Read