BANGKOK: Thailand's cabinet has approved the central bank's effective headline inflation target for 2016 of 1 to 4 percent, the same target range used for this year, Finance Minister Apisak Tantivorawong said on Tuesday.

This year, the central bank switched to targetting headline inflation of 2.5 percent plus or minus 1.5 percentage points to guide its monetary policy.

It had previously targeted the core rate, which strips out fresh food and energy prices.

The inflation target is reviewed each year.

The central bank expects annual headline consumer prices to rise 0.8 percent next year after falling 0.9 percent this year, driven by low oil prices.

Copyright Reuters, 2015