Thailand Inflation

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Thailand: Consumer prices record slower annual drop in September

October 2, 2015

In September, consumer prices fell 0.05% over the previous month, which followed the 0.23% decrease seen in August and marked a three-month high. According to the Ministry of Commerce, September’s fall mainly resulted from lower prices for energy and communication.

Consumer prices in September fell 1.1% over the same month last year. The figure was above August’s 1.2% drop. 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 0.07% over the previous month (August: +0.03% month-on-month). Core inflation inched up from 0.9% in August to 1.0% in September, which marked the highest reading in five 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 September 2015

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


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