Thailand Inflation


Consumer prices record softer annual drop in July

In July, consumer prices fell 0.07% over the previous month, which contrasted the 0.10% increase observed in June. According to the Ministry of Commerce, July’s fall mainly resulted from lower prices for transportation and communication as well as for energy.

Consumer prices in July fell 1.0% over the same month last year. The figure followed June’s 1.1% drop and marked the smallest fall in three months. Inflation is well 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, rose 0.10% over the previous month (June: 0.06% month-on-month). Core inflation in July was stable at June’s 0.9%.

The Bank of Thailand projects that inflation will average 2.1% in 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 2.1% in 2015, which is down 0.2 percentage points from last month’s Consensus. For 2016, panelists see average inflation at 2.5%.

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Thailand Inflation Chart

Thailand Inflation July 2015

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

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