Thailand Inflation August 2017


Thailand: Inflation picks up pace in August

September 2, 2017

Consumer prices increased 0.11% month-on-month in August, contrasting last month’s decrease (July: -0.13% month-on-month). August’s print was driven by higher prices for transportation and communication, raw food and energy, and apparel and footwear, which offset lower prices for food and non-alcoholic beverages and medical and personal care. Core consumer price inflation, which excludes energy and fresh food, came in at 0.05%, which is slightly below last month’s reading of 0.08%.

Inflation rose to 0.3% in August from 0.2% in July. Although it climbed again, inflation is far below the Central Bank’s target range of 1.0%–4.0% for the sixth consecutive month. Furthermore, core inflation remained steady for the fifth consecutive month at 0.5%. While trade data indicates a fairly robust domestic market, subsidies and state price controls have confined inflation. August’s result should allow the Central Bank to keep interest rates low at its next policy meeting scheduled for 27 September.

The Bank of Thailand foresees inflation of 0.8% in 2017 and 1.6% in 2018. FocusEconomics Consensus Forecast panelists expect inflation of 0.9% on average in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, panelists predict average inflation of 1.5%.

Author:, Economist

Sample Report

Looking for forecasts related to Inflation in Thailand? Download a sample report now.


Thailand Inflation Chart

Thailand Inflation August 2017

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

Thailand Economic News

More news

Search form