Thailand Inflation


Thailand: Inflation inches down to lowest level in nine months in September

October 2, 2014

In September, consumer prices fell 0.17% over the previous month, which followed the 0.08% decrease tallied in August and marked the fastest decrease since November 2012. According to the Ministry of Commerce, September’s decline resulted from lower prices for food and non-alcoholic beverages, as well as for transportation.

Annual headline inflation inched down from 2.1% in August to 1.8% in September, which marked the lowest rate in nine months. The result undershot market expectations of the inflation rate inching down to 2.0%. The drop in the inflation rate reflects the effort of the military government to keep prices under control in order to preserve purchasing power and support private consumption.

Core consumer prices, which exclude prices for energy and fresh foods, fell 0.01% over the previous month (August: -0.09% month-on-month). In addition, annual core inflation inched down from 1.8% in August to 1.7% in September. Core inflation is still within the Central Bank’s target range of 0.5%–3.0%.

The Bank of Thailand projects that inflation will average 2.6% in 2014 and 2.5% in 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 2.4% in 2014, which is unchanged from last month’s Consensus. For 2015, panelists see average inflation at 2.8%.

Author:, Senior Economist

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Thailand Inflation Chart

Thailand Inflation September 2014

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

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