Thailand Inflation August 2016

Thailand

Thailand: Inflation edges up in August

September 1, 2016

In August, consumer prices decreased 0.04% over the previous month, which was above the 0.35% decrease observed in July. According to the Ministry of Commerce, August’s decrease mainly resulted from lower prices for vehicles, transport and energy, while prices for food and non-alcoholic beverages increased moderately.

Inflation increased from 0.1% in July to 0.3% in August. Inflation remains well below the Central Bank’s tolerance margin of plus/minus 1.5 percentage points around its target of 2.5%. Core consumer prices, which exclude prices for energy and fresh food, increased 0.07% over the previous month, thus coming in slightly above the 0.06% increase seen in July. Core inflation was stable at July’s 0.8% in August.

The Bank of Thailand foresees average inflation rates of 0.6% in 2016 and 2.2% in 2017. FocusEconomics Consensus Forecast panelists expect consumer prices to increase 0.6% on average in 2016, which unchanged from last month’s Consensus. For 2017, panelists see average inflation at 2.0%.


Author: Marlène Rump, Senior Data Analyst

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Thailand Inflation August 2016 1

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


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