KONTAN.CO.ID - BANGKOK. Thailand's headline consumer price index (CPI) jumped by a higher-than-expected 5.73% in March from a year earlier, the fastest pace in 13 years, driven by stronger prices of goods and energy, the commerce ministry said on Tuesday. That compared with a forecast for a rise of 5.60% in a Reuters poll and followed February's 5.28% increase, breaching the top end of the central bank's target range of 1% to 3% for a third straight month. The commerce ministry raised its forecast for headline inflation to 4% to 5% this year from a previous estimate of 0.7% to 2.4%, official Ronnarong Phoolpipat told a news conference. In 2008, inflation was 5.5%.
Read Also: Oil Jumps Toward $108 as Supply Fears Persist Despite Reserves Release Government measures including price controls on essential goods, a cap on fuel prices and subsidies would help slow a rise in inflation, he said. "Policymakers viewed that the current high inflation must be closely monitored, but it's not so worrying that further measures would be needed," Ronnarong said.