Thailand’s 2024 inflation target approved: 1% to 3% range maintained

The Bank of Thailand’s (BoT) headline inflation target range for the year 2024 has been given the green light by the cabinet. The approved target, set between 1% and 3%, remains unaltered from the current year, as reported by Deputy Finance Minister Julapun Amornvivat yesterday. This target, which serves as a guiding beacon for monetary policy, is subjected to an annual review.

Notably, a decline was observed in headline inflation for two consecutive months, as reported by the Commerce Ministry earlier this month. The data revealed that it had dipped to the lowest in the past 33 months by November, reported Bangkok Post.

In related news, Thailand faces a significant economic challenge as inflation hits a 33-month low in November, marking the second consecutive month of decline. The Consumer Price Index dropped to -0.44% year-on-year, sparking concerns…