Thailand Inflation September 2021


Thailand: Inflation returns in September

October 5, 2021

Consumer prices increased 1.59% in September over the previous month, swinging from August's 0.18% fall. September's result was the highest reading since May 2008. The reading was primarily driven by rising prices for food and non-alcoholic beverages. In addition, price pressures for housing and furnishing.

Inflation clocked in at 1.7% in September, rising from August’s flat reading. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 0.5% in September (August: 0.3%), while core inflation ticked up to 0.2% in September from August’s 0.1%.

Regarding the outlook, Kyrstal Tan and Sanjay Mathur, economists are ANZ Research, commented:

“Looking ahead, inflation will be supported by a further reopening of the economy. However, the significant slack in the economy and relief measures to help with the cost of living will help cap overall inflation. For instance, the energy policy committee is intervening to keep domestic diesel prices in check in October, while the government also has plans to freeze cooking gas prices from October to January to reduce the burden on households.”

FocusEconomics Consensus Forecast panelists see inflation returning in 2021, with consumer prices rising 1.0%, which is down 0.1 percentage points from last month’s forecast, while in 2022 panelists predict average inflation of 1.2%.

Author:, Economist

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Thailand Inflation Chart

Thailand Inflation September 2021

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

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