Thailand Inflation December 2016


Thailand: Inflation at over two-year high in December

January 5, 2017

In December consumer prices rose slightly by 0.13% on a month-on-month basis, contrasting the 0.06% drop recorded in November. The prices of energy and vehicles and vehicle operations rose the most and offset price decreases in other categories, including the important food and beverage category. Core consumer prices, which exclude energy and fresh food, increased 0.01% in December compared to the previous month, inching down from November’s 0.03% rise.

Inflation came in at 1.1% in December, above the 0.6% rise registered in November and also marginally above market expectations of a 1.0% increase. The reading is thus within the Central Bank’s target band of 1.0%-4.0% for the first time since November 2014. Core inflation remained constant at 0.7% in December.

The Bank of Thailand foresees inflation of 1.5% in 2017. FocusEconomics Consensus Forecast panelists expect inflation of 1.7% on average in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, panelists predict average inflation of 2.0%.

Author: Marlène Rump, Senior Data Analyst

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Thailand Inflation Chart

Thailand Inflation December 2016

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

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