Inflation in Thailand

Thailand Inflation | Economic News & Forecasts

Thailand - Inflation

Inflation accelerates in July

In July, consumer prices decreased 0.13% in monthly terms, the lowest reading in four months (June: +0.02 month-on-month). The drop was driven by lower prices for food and non-alcoholic beverages, transportation and communication, as well as raw food and energy which offset higher prices for subcategories such as recreation and education, and apparel and footwear. Core consumer prices, excluding energy and fresh food, were steady at the previous month’s 0.08% increase–the highest print in 13 months.

Inflation came in at 0.2% in July, contrasting the previous month’s 0.1% fall in consumer prices. Although inflation returned in July, it remains far below the Central Bank’s target range on 1.0%-4.0% for the fifth consecutive month. Inflation has been confined due to state price controls, sluggish domestic demand and subsidies. Moreover, July’s results gave the Central Bank room to keep its interest rates low at its next monetary policy meeting scheduled for 16 August: and analysts are not expecting a change to the interest rate. Furthermore, core inflation was also steady at June’s print of 0.5%.

The Bank of Thailand foresees inflation of 0.8% in 2017 and 1.6% in 2018. FocusEconomics Consensus Forecast panelists expect inflation of 1.0% on average in 2017, which is down 0.2 percentage points from last month’s forecast. For 2018, panelists predict average inflation of 1.6%.

Thailand - Inflation Data

2012  2013  2014  2015  2016  
Inflation Rate (CPI, annual variation in %)3.0  2.2  1.9  -0.9  0.2  

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Thailand Inflation Chart


Thailand Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Bureau of Trade and Economics and FocusEconomics calculations.

Thailand Facts

ValueChangeDate
Bond Yield2.41-1.63 %Aug 17
Exchange Rate33.21-0.13 %Aug 17
Stock Market1,5690.09 %Aug 17

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