Thailand Inflation April 2020


Thailand: Consumer prices fall sharply in April

May 4, 2020

Consumer prices fell 2.03% month-on-month in April, down from March’s 0.86% drop, on the back of notably lower prices for transport; housing and furnishing; and electricity, fuel and water supply.

Meanwhile, consumer prices fell 3.0% year-on-year in April, down from March’s 0.5% decrease and moving further below the Bank of Thailand’s 1.0%–3.0% target range. Moreover, as Covid-19 continues to wreak havoc on domestic demand, inflationary pressures are expected to remain mild in the remainder of the year. Annual average inflation, meanwhile, eased to 0.3% in April from 0.6% in March and core inflation, which excludes raw food and energy, inched down to 0.4% from 0.5%.

FocusEconomics Consensus Forecast panelists see consumer prices falling 0.4% in 2020, which is down 0.9 percentage points from last month’s forecast. For 2021, panelists predict average inflation of 0.7%.

Author:, Economist

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Thailand Inflation Chart

Thailand Inflation April 20 20

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

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