“After the positive sign of the recovery in inflation, the ministry will review the inflation target next month,” Somkiat Triratpan, director of the Policies and Trade Strategies Bureau, said yesterday.

The ministry is more confident that the Consumer Price Index will continue growing by 0-1 per cent this year.

That assumes that Dubai crude oil will average US$30-$40 per barrel, the baht will range between 36 and 38 to the US dollar and gross domestic product will expand by 2.8-3.8 per cent.

The CPI last month rose by 0.07 per cent year on year and by 0.55 per cent month on month.

The index for the first four months of this year was still below the same period last year by 0.35 per cent.

The CPI last month was up for the first time since December 2014.

The drought has reduced the |supply of fruits and vegetables and the production of meat.

The global oil price also increased from an average of $35.31 pexr barrel in March to $38.31 in April.

Somkiat said that with the uptrend in prices, the deflationary risk had abated.

Inflation is expected to increase slightly in the following months.

However, if the dry season has been passed and the supply of food has increased, it would lower pressure on inflation, he said.

Last month, food and beverage prices climbed 1.57 per cent on lower supply and high demand for some foods during the Songkran Festival, while non-food-and-beverage prices decreased by 0.76 per cent, in spite of the rising costs of medical services and medicine.Core inflation, which excludes volatile food and fuel prices, firmed slightly by 0.78 per cent year on year and by 0.14 per cent month on month.

Core inflation in the first four months increased 0.7 per cent, which is in line with the Bank of Thailand’s target range of 0.5-3 per cent.