Thailand Inflation March 2017


Thailand: Inflation decelerates in March

April 3, 2017

In March, consumer prices in Thailand declined 0.46% on a month-on-month basis, contrasting the 0.04% increase recorded in February. Core consumer prices, which exclude energy and fresh food, increased 0.04% in March compared to the previous month (February: +0.02%).

Inflation came in at 0.8% in March, easing markedly from February’s 1.4% and also well below market analysts’ forecast of a milder deceleration to 1.3%. As a consequence, the reading was back below the Central Bank’s target band of 1.0%-4.0% after only three months within the range. Core inflation was steady at 0.6% in March.

The Bank of Thailand foresees inflation of 1.2% in 2017 and 1.9% in 2018. FocusEconomics Consensus Forecast panelists expect inflation of 1.6% on average in 2017, which is unchanged from last month’s forecast. For 2018, panelists predict average inflation of 1.9%.

Author: Marlène Rump, Senior Data Analyst

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Thailand Inflation Chart

Thailand Inflation March 2017

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

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