Thailand Inflation


Inflation inches up in October

In October, consumer prices rose 0.17% over the previous month, which was virtually unchanged over the 0.16% increase recorded in September. According to the Ministry of Commerce, October's reading came on the back of increasing prices for housing and furnishing as well as for non-food and beverages.

Annual headline inflation inched up from 1.4% in September to 1.5% in October, which was slightly above the 1.4% increase the markets had forecast.

The core inflation index, which excludes energy and fresh food prices, remained at September's 0.1%. In addition, annual core inflation inched up from 0.6% in September to 0.7% in October and thus core inflation remains within the Central Bank's 0.5%-3.0% target range.

The Bank of Thailand projects inflation to average 2.3% in 2013 and 2.6% in 2014. FocusEconomics Consensus Forecast panelists expect inflation to average 2.8% in 2013, which is down 0.1 percentage points from last month's Consensus. For 2014, panelists see average inflation at 3.1%, which is also down 0.1 percentage points from last month's projection.

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Thailand Inflation Chart

Thailand Inflation October 2013

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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