Thailand Inflation August 2020

Thailand

Thailand: Consumer prices continue to fall in August

September 3, 2020

Consumer prices rose 0.29% over the previous month in August, which was below the 0.66% rise seen in July. August's result marked the softest rise in prices since May. Looking at the details of the release, prices for food and non-alcoholic beverages increased in August. In contrast, prices for housing and furnishing dropped after growing in the previous month.

Consumer prices declined 0.5% year-on-year in August, a smaller drop than July’s 1.0% fall. August's result was the smallest drop in consumer prices since February. Meanwhile, the trend pointed down mildly, with the annual average variation of consumer prices coming in at minus 0.6% in August (July: -0.5%). Core inflation edged down to 0.3% from July’s 0.4%.

FocusEconomics Consensus Forecast panelists see consumer prices falling 1.2% in 2020, which is unchanged from last month’s forecast. For 2021, panelists predict average inflation of 0.8%.


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Thailand Inflation August 20 20

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


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