Thailand Inflation

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Thailand: Consumer prices record faster annual drop in August

September 2, 2015

In August, consumer prices fell 0.23% over the previous month, which followed the 0.07% decrease seen in July and marked a seven-month low. According to the Ministry of Commerce, August’s fall mainly resulted from lower prices for transportation and communication as well as for energy.

Consumer prices in August fell 1.2% over the same month last year. The figure was below July’s 1.0% drop and marked the fastest fall in three months. 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 0.03% over the previous month (July: +0.10% month-on-month). Core inflation in August was stable at July’s 0.9%.

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 August 2015

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


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