Thailand Inflation November 2016

Thailand

Thailand: Inflation jumps to nearly two-year high in November

December 2, 2016

In November, Thai consumer prices fell slightly by 0.06% on a month-on-month basis, compared to the 0.16% rise recorded in October. The price of energy, food and non-alcoholic beverages and transport fell, while the price of clothing rose very slightly compared to the prior month. Core consumer prices, which exclude energy and fresh food, increased 0.03% in November compared to October, practically mirroring October’s 0.04% rise.

Inflation came in at 0.6% in November, above the 0.3% registered in October but marginally below market expectations of 0.66%. The reading also remains outside the Central Bank’s target band of 1.0%-4.0%. Core inflation remained constant at 0.7% in November.

The Bank of Thailand foresees inflation of 0.3% in 2016 and 2.0% in 2017. FocusEconomics Consensus Forecast panelists expect consumer prices to increase 1.8% on average in 2016, which is unchanged from last month’s forecast. For 2017, panelists predict average inflation of 2.1%, which is up 0.1 percentage points from last month’s estimate.


Author:, Senior Economist

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