Latest reading: Consumer prices were flat year on year in June, contrasting May’s 0.1% year-on-year decline and market expectations for...
Inflation in Thailand
Consumer price inflation in Thailand averaged 1.1% in the ten years to 2024, in line with the ASEAN regional average of 3.0%. The 2024 average figure was 0.4%. For more information on inflation, visit our dedicated page.
Thailand Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Thailand from 2014 to 2024.
Source: Macrobond.
Thailand Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | -0.8 | 1.2 | 6.1 | 1.2 | 0.4 |
| Inflation (CPI, ann. var. %, eop) | -0.3 | 2.2 | 5.9 | -0.8 | 1.2 |
| Inflation (Core, ann. var. %, aop) | 0.3 | 0.2 | 2.5 | 1.3 | 0.6 |
| Inflation (PPI, ann. var. %, aop) | -1.6 | 4.7 | 10.4 | -2.4 | 1.6 |
Consumer prices drop further in May
Latest reading: Consumer prices decreased 0.6% year on year in May, following April’s 0.2% fall. May's reading represented the largest dip in consumer prices since February 2024. Price pressures for food and beverages continued to ease, reaching a near one-year low, while transport costs fell at the quickest pace since June 2023. In contrast, prices for housing and utilities dropped at a more moderate pace. Accordingly, annual average inflation fell to 0.7% in May (April: 0.8%). Meanwhile, core inflation ticked up to 1.1% in May from the previous month's 1.0%. Finally, consumer prices rose 0.26% in May over the previous month, contrasting April's 0.21% fall. May's figure was the highest reading since May 2024.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Thai inflation projections for the next ten years from a panel of 36 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Thai inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Thai inflation projections.
Want to get access to the full dataset of Thai inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Switzerland: Consumer prices are unchanged in June -
Peru: Inflation remains muted in June Latest reading: Inflation came in at 1.7% in June, matching May’s result and in line with the Central Bank’s 1.0–3.0%... -
Kazakhstan: Inflation increases to a near two-year high in June Latest reading: Inflation rose to 11.8% in June, above May’s 11.3%, marking the highest inflation rate since August 2023, and... -
Kenya: Inflation flatlines below midpoint of the target range in June Latest reading: Inflation was stable at May’s 3.8% in June, remaining below the midpoint of the Central Bank’s 2.5–7.5% target... -
Australia: Inflation nears target floor in May Latest reading: Inflation dropped to 2.1% in May after having stood at 2.4% for a third consecutive month in April.... -
Hong Kong: Inflation moderates in May Latest reading: Inflation fell to 1.9% in May from April’s 2.0%, due to weaker price pressures for food, transport and... -
Canada: Inflation remains on target in May Latest reading: Inflation came in at 1.7% in May, matching April’s reading and market expectations, and comfortably within the Central...