Krungthai COMPASS Research Center, Krung Thai Bank In April, headline inflation rose 2.67%YoY, decelerating from 2.83%YoY in the previous month, close to analysts’ expectations of 2.7%. The base last year was high. and energy prices which are likely to decline following the continual decline in global crude oil prices.
Therefore, Krungthai COMPASS expects headline inflation to be within the BOT’s target range throughout the rest of the year. Headline inflation is expected to stay within the target range of 1-3 percent for the remainder of this year. Headline inflation for the first four months of the year stood at 3.58 percent, while core inflation stood at 2.09 percent.
However, prices in the core inflation category excluding food may remain high. Prices in the basic category continued to increase in April, with prices excluding food such as public fares (0.50+%MoM) and prices in medical and personal services (+0.08%). MoM) gradually increased continuously. As a result, the proportion of core inflation coming from other categories that is not food at a high rate Therefore, it is expected that such factors will encourage the MPC to continue raising interest rates to 2.00% in the May 2023 meeting.
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