Thailand: Inflation jumps in February
March 4, 2019
Consumer prices rose 0.24% in February over the previous month (January: -0.02% month-on-month) on higher prices for transportation and communication; non-food and beverages; and raw food and energy, while prices for food and non-alcoholic beverages increased at a softer pace in February compared to January.
Inflation more than doubled from 0.3% in January to 0.7% in February, but remained below the Bank of Thailand’s 1.0%–4.0% target range. Lastly, core inflation, which excludes raw food and energy, edged down from 0.7% in January to 0.6% in February.
Thailand Inflation Forecast
The Bank of Thailand sees inflation at 1.0% in 2019. FocusEconomics Consensus Forecast panelists expect inflation to average 1.1% in 2019, which is unchanged from last month’s forecast. For 2020, panelists predict average inflation of 1.5%.
Author: Jan Lammersen, Economist