Thailand Inflation


Thailand: Inflation eases further in October

November 4, 2014

In October, consumer prices fell 0.10% over the previous month, which followed the 0.17% decrease tallied in September and marked the softest fall since August. According to the Ministry of Commerce, October’s decline resulted from lower prices for food and non-alcoholic beverages, as well as for energy.

Annual headline inflation fell from 1.8% in September to 1.5% in October, which marked the lowest rate in a year. The result undershot market expectations of the inflation rate falling to 1.6%. The drop in the inflation rate reflects the effort of the military government to keep prices under control in order to preserve purchasing power and support private consumption.

Core consumer prices, which exclude prices for energy and fresh foods, rose 0.06% over the previous month (September:-0.01% month-on-month). Annual core inflation was stable at September’s 1.7% in October. Core inflation is still within the Central Bank’s target range of 0.5%–3.0%.

The Bank of Thailand projects that inflation will average 2.2% in 2014 and 2.1% in 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 2.3% in 2014, which is unchanged from last month’s Consensus. For 2015, panelists see average inflation at 2.6%, which is also unchanged from last month’s forecast.

Author:, Senior Economist

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Thailand Inflation Chart

Thailand Inflation October 2014

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

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