Thailand Inflation


Thailand: Consumer prices in February record largest drop in over five years

March 3, 2015

In February, consumer prices rose 0.12% over the previous month, which contrasted the 0.59% decrease seen in January and marked the fastest increase in nine months. According to the Ministry of Commerce, February’s increase mainly resulted from lower prices for food and non-alcoholic beverages.

Consumer prices fell 0.5% over the same month last year, which followed January’s 0.4% drop and marked the fastest decrease since September 2009. The result was below the 0.3% drop the market had expected. As a consequence, annual inflation is well below the Bank’s tolerance margin of plus/minus 1.5 percentage points around its target of 2.5%. Core consumer prices, which exclude prices for energy and fresh food, rose a weak 0.09% over the previous month (January:+0.16% month-on-month). Annual core inflation inched down from 1.6% in January to 1.5% in February and now stands at its lowest level since March 2014.

The Bank of Thailand projects that inflation will average 2.1% in 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 2.1% in 2015, which is down 0.2 percentage points from last month’s Consensus. For 2016, panelists see average inflation at 2.5%.

Author:, Senior Economist

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Thailand Inflation Chart

Thailand Inflation February 2015

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

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