Thailand Inflation December 2020


Thailand: Consumer prices record smallest fall since February in December

January 5, 2021

Consumer prices increased 0.15% in December over the previous month, contrasting November's 0.04% fall. December's figure marked the sharpest increase in prices since August. Looking at the details of the release, prices for housing and furnishing were rose in the month, although prices for food and non-alcoholic beverages dropped at a sharper pace in December.

Consumer prices fell 0.3% on an annual basis in December, a less pronounced drop compared with November’s 0.4% fall. December's result marked the smallest dip in consumer prices since February. The annual average variation of consumer prices remained at November's minus 0.8% in December. Meanwhile, core inflation was unchanged this month, coming in at November's 0.2%.

FocusEconomics Consensus Forecast panelists see inflation returning in 2021, with consumer prices rising 1.0%, which is up 0.1 percentage points from last month’s forecast, while in 2022 panelists predict average inflation of 1.2%.

Author:, Economist

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Thailand Inflation Chart

Thailand Inflation December 20 20

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

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