Thailand Inflation May 2016


Thailand: Inflation pick up in May

June 5, 2016

In May, consumer prices increased 0.56% over the previous month, which followed the 0.55% increase seen in April and marked the highest reading since March 2012. According to the Ministry of Commerce, May’s increase mainly resulted from higher prices for fresh food.

Inflation increased from 0.1% in April to 0.5% in May, thus hitting the highest reading since December 2014. Despite the increase, inflation remains 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, increased 0.05% over the previous month, thus coming in below the 0.14% increase seen in the previous month. Core inflation was stable at April’s 0.8% in May.

FocusEconomics Consensus Forecast panelists expect consumer prices to increase 1.4% on average in 2016, which is down 0.1 percentage points from last month’s Consensus. For 2017, panelists see average inflation at 2.2%.

Author:, Senior Economist

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Thailand Inflation Chart

Thailand Inflation May 2016

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

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