Thailand Inflation January 2016


Thailand: Consumer prices record softer annual drop in January

February 3, 2016

In January, consumer prices fell 0.26% over the previous month, which followed the 0.39% decrease seen in December and marked a three-month high. According to the Ministry of Commerce, January’s fall mainly resulted from lower prices for energy and communication.

Consumer prices in January fell 0.5% over the same month last year. The figure was above December’s 0.9% drop. Inflation is 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, increased 0.07% over the previous month, thus contrasting the 0.02% decrease seen in the previous month. Core inflation inched down from 0.7% in December to 0.6% in January, which marked the lowest reading since April 2010.

The Bank of Thailand projects inflation to average 1.2% in 2016. FocusEconomics Consensus Forecast panelists expect consumer prices to increase 1.4% on average in 2016, which is down 0.1 percentage points from last month’s Consensus. For 2017, panelists see average inflation at 2.2%.

Author:, Senior Economist

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Thailand Inflation Chart

Thailand Inflation January 2016

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

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