Thailand Inflation June 2017

Thailand

Thailand: Inflation decelerates in June

July 3, 2017

Consumer price growth in June came in barely above the zero percent mark, registering a 0.02% increase on a month-on-month basis, following the previous month’s 0.15% increase. June’s reading is the lowest in three months and came on the back of higher prices for food and non-alcoholic beverages and recreation and education, which just offset lower prices for transportation and communication and non-food and beverages. Core consumer prices, excluding energy and fresh food, increased 0.08% in June compared to the previous month (May: +0.01% month-on-month), marking the highest print in a year.

Prices decreased 0.1% year-on-year in June, below May’s reading but matching market expectations of a 0.1% fall. Inflation thus remained outside the Central Bank’s target range of 1.0%-4.0% for the fourth consecutive month. Core inflation was steady at 0.5% in June.

The Bank of Thailand foresees inflation of 0.8% in 2017 and 1.6% in 2018. FocusEconomics Consensus Forecast panelists expect inflation of 1.2% on average in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, panelists predict average inflation of 1.7%.


Author:, Economist

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Thailand Inflation Chart


Thailand Inflation June 2017

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


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