Thailand Inflation

Thailand

Thailand: Inflation reaches lowest level in over five years

December 2, 2014

In November, consumer prices fell 0.12% over the previous month, which followed the 0.10% decrease tallied in October. According to the Ministry of Commerce, November’s decline resulted from lower prices for food and non-alcoholic beverages, as well as for vehicles and vehicle operation.

Annual headline inflation decreased from 1.5% in October to 1.3% in November, thus reaching the lowest level since October 2009. The result met market expectations. Core consumer prices, which exclude prices for energy and fresh foods, rose 0.11% over the previous month (October:+0.06% month-on-month). Annual core inflation inched down from 1.7% in October to 1.6% in November, thus reaching the lowest level in eight months. Core inflation is still within the Central Bank’s target range of 0.5%–3.0%.

The Bank of Thailand projects that inflation will average 2.2% in 2014 and 2.1% in 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 2.3% in 2014, which is unchanged from last month’s Consensus. For 2015, panelists see average inflation at 2.6%, which is also unchanged from last month’s forecast.


Author:, Senior Economist

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Thailand Inflation Chart


Thailand Inflation November 2014

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


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