Thailand Inflation January 2017

Thailand

Thailand: Inflation hits over two-year high in January

February 2, 2017

In January, consumer prices rose by 0.16% on a month-on-month basis, up from the 0.13% increase recorded in December. Core consumer prices, which exclude energy and fresh food, increased 0.52% in January compared to the previous month, well above December’s 0.01% rise.

Inflation came in at 1.6% in January (December: 1.1%), the highest result in 28 months. The reading was thus within the Central Bank’s target band of 1.0%-4.0% for the second consecutive month after over two years below the lower bound. Core inflation rose from 0.7% in December to 1.2% in January.

The Bank of Thailand foresees inflation of 1.5% in 2017. FocusEconomics Consensus Forecast panelists expect inflation of 1.6% on average in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, panelists predict average inflation of 2.0%.


Author: Marlène Rump, Senior Data Analyst

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Thailand Inflation Chart


Thailand Inflation January 2017

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


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