Thailand Inflation


Inflation inches up in January

In January, consumer prices rose 0.42% over the previous month, which was up from the 0.14% rise recorded in December. According to the Ministry of Commerce, January's increase was the result of a rise in prices for food and non-alcoholic beverages as well as for vehicles and vehicle operation.

Annual headline inflation rose from 1.7% in December to 1.9% in January. The result overshot the 1.8% increase that markets had expected.

The core consumer prices, which exclude energy and fresh food prices, rose from 0.1% in December to 0.2% in January. In addition, annual core inflation rose to 0.9% in January (December: 1.0%). 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 2.4% in 2014. FocusEconomics Consensus Forecast panelists expect inflation to average 2.8% in 2014, which is down 0.1 percentage points from last month's Consensus. For 2015, panelists see average inflation at 3.1%.

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Thailand Inflation Chart

Thailand Inflation January 2014

Note: Month-on-month and year-on-year changes of consumer price index in %.
Source: Bureau of Trade and Economics (BTE) and FocusEconomics calculations.

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