Thailand Inflation October 2016


Thailand: Inflation eases slightly in October

November 2, 2016

In October, consumer prices in Thailand inched up 0.16% from the previous month, which was an uptick from the 0.04% rise observed in September. According to the Ministry of Commerce, October’s increase mainly resulted from higher prices for vehicles and energy.

Inflation came in at 0.3% in October, which was below both the 0.4% observed in September and market expectations of a 0.4% rise. Moreover, the reading remains well below the Central Bank’s lower tolerance limit of 1.0%.

Core consumer prices, which exclude prices for energy and fresh food, increased 0.04% from the previous month, exceeding the 0.02% rise seen in September. Core inflation inched down from September’s 0.8% to 0.7% in October.

The Bank of Thailand foresees average inflation rates of 0.3% in 2016 and 2.0% in 2017. FocusEconomics Consensus Forecast panelists expect consumer prices to increase 0.3% on average in 2016, which is down 0.2 percentage points from last month’s Consensus. For 2017, panelists see average inflation at 1.8%, which is down 0.1 percentage points from last month’s estimate.

Author: Marlène Rump, Senior Data Analyst

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Thailand Inflation Chart

Thailand Inflation October 2016

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

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