Thailand Inflation

Thailand

Thailand: Consumer prices in May record largest drop in nearly six years

June 3, 2015

In May, consumer prices rose 0.17% over the previous month, which followed the 0.02% increase observed in April. According to the Ministry of Commerce, May’s increase mainly resulted from higher prices for food and non-alcoholic beverages.

Consumer prices fell 1.3% over the same month last year, which followed April’s 1.0% drop and marked the fastest decrease since July 2009. As a consequence, inflation is well below the Central 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 0.05% over the previous month (April: 0.11% month-on-month). Annual core inflation inched down from 1.6% in April to 1.5% in May, the lowest level in six months.

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 May 2015

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


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