Thailand Inflation March 2016


Annual consumer prices drop in March

In March, consumer prices increased 0.21% over the previous month, which followed the 0.15% increase seen in February and marked the highest reading since May 2014. According to the Ministry of Commerce, March’s increase mainly resulted from higher prices for energy and communication.

Consumer prices in March fell 0.50% over the same month last year, which matched February’s reading. Inflation remains below the Central Bank’s tolerance margin of plus/minus 1.5 percentage points around its target of 2.5%. Core consumer prices, which exclude prices for energy and fresh food, increased 0.01% over the previous month, thus coming in slightly below the 0.18% increase seen in the previous month. Core inflation inched up from 0.7% in February to 0.8% in March.

The Bank of Thailand projects inflation to average 1.2% in 2016. FocusEconomics Consensus Forecast panelists expect consumer prices to increase 1.4% on average in 2016, which is down 0.1 percentage points from last month’s Consensus. For 2017, panelists see average inflation at 2.2%.

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Thailand Inflation Chart

Thailand Inflation March 2016

Note: Annual and monthly variation of consumer price index in %.
Source: Ministry of Commerce and FocusEconomics calculations.

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