In August, consumer prices rose 0.40% over the previous month, which was a notch above the 0.35% increase recorded in July. The reading was mainly the result of higher prices for transportation and communication as well as for alcoholic beverages and tobacco. Meanwhile, annual headline inflation mirrored July's 2.7% increase, which was also in line with market expectations. The core inflation index, which smoothens energy and fresh food prices added 0.17% over the previous month (July: +0.03% month-on-month), which drove annual core inflation to 1.8% in August. At the current level, core inflation remains well within the Central Bank's 0.5%-3.0% target range. Annual average inflation continues its downward trajectory, inching down from 3.4% in July to 3.3% in August, its lowest level since April 2011. The Commerce Ministry expects inflation to average 3.3% this year and 3.5% next year. The Bank of Thailand projects inflation average 2.9% this year and 3.4% in 2013.
Inflation remains steady in August
September 1, 2012
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Thailand Inflation Chart
Note: Month-on-month and year-on-year changes of consumer price index in %.
Source: Bureau of Trade and Economics (BTE) and FocusEconomics calculations.
Thailand Economic News
October 17, 2016
On 13 October, Thailand’s beloved King Bhumibol Adulyadej died after a 70-year reign and his successor, Crown Prince Maha Vajiralongkorn, has declared his wish to wait until he ascends the throne.
October 4, 2016
In September, consumer prices inched up 0.04% from the previous month, which contrasted the 0.04% decrease observed in August and overshot market expectations of a 0.1% increase.
September 30, 2016
In August, the trade balance recorded a USD 2.1 billion surplus, which was above the USD 0.7 billion surplus observed in the same month of the previous year and was also higher than the USD 0.8 billion surplus registered in July.
September 30, 2016
In August, manufacturing production increased 3.1% over the same month last year, which was a sharp upswing from the 5.0% contraction seen in July and marked the highest reading in over three years.
September 14, 2016
At its 14 September monetary policy meeting, the Bank of Thailand (BoT) decided unanimously to keep the one-day repurchase rate at 1.50% as the markets had expected. In its press release, the Bank commented that the Thai economy had accelerated in the second quarter on the back of strong private consumption and resilient public expenditure.