Thailand Inflation December 2017


Thailand: Inflation falls back below target range in December

January 1, 2018

Consumer prices in Thailand decreased 0.08% over the previous month in December, contrasting a 0.07% increase in November. The marginal drop in consumer prices was chiefly driven by lower prices for food and non-alcoholic beverages, and raw food and energy.

Inflation eased from 1.0% in November to 0.8% in December, below market expectations of a stable reading. As a result, inflation came in below the Central Bank’s target range of 1.0%–4.0%, where it had been for most of 2017. Core inflation, meanwhile, remained steady at the previous month’s 0.6% in December. The Bank of Thailand is likely to maintain its accommodative monetary policy at its 14 February meeting; inflation has proved elusive over the past year despite a pick-up in the domestic economy.

The Bank of Thailand now sees inflation of 1.1% in 2018. FocusEconomics Consensus Forecast panelists expect inflation of 1.5% on average in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, panelists predict average inflation of 1.8%.

Author:, Economist

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Thailand Inflation Chart

Thailand Inflation December 2017

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

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