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 However, compared to February, the inflation was 0.5 per cent higher as oil prices escalated in March as well as the higher prices of fresh food items, according to the Commerce Ministry.

 Inflation in the first three months of this year was down 0.3 per cent on year, as housing, transportation and communications costs declined.

 "The annualised inflation target is maintained at 0-0.5 per cent based on the average crude price of US$50-$60 per barrel and US$/baht exchange rate at Bt35-Bt36. Yet, it's unclear whether this would change," said Commerce Permanent Secretary Siripol Yodmuangcharoen.

 He added that it is too soon to conclude that Thailand is facing deflation and asserted that product prices are still moving up and down.

 He noted that the government's gift-cheque scheme worth Bt20 billion may raise inflation, but it is unclear if inflation in April would fall or increase from the level in the same period last year.