Thailand Inflation December 2019


Thailand: Inflation comes in just below target in December

January 3, 2020

Thai consumer prices were virtually unchanged in December over the prior month, as prices rose a meager 0.01% month-on-month. This contrasted the 0.13% decline registered in November. The marginal uptick reflected pricier housing and furnishing, and transportation and communication offsetting cheaper food and non-alcoholic beverages.

Meanwhile, inflationary pressures intensified but remained just below the Bank of Thailand’s target of 1.0%–4.0% as inflation came in at 0.9% in December, up from 0.2% in November. Core inflation, which excludes raw food and energy, was stable at November’s 0.5% in December.

Going forward, FocusEconomics Consensus Forecast panelist see inflation picking up slightly and returning to target; however, inflation is seen remaining relatively muted. The panel expects inflation to average 1.2% in 2020, which is unchanged from last month’s forecast. For 2021, panelists predict average inflation of 1.4%. The Bank of Thailand, meanwhile, foresees inflation averaging 1.0% in 2020.

Author:, Economist

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Thailand Inflation Chart

Thailand Inflation December 2019 0

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

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