Thailand Inflation July 2019


Thailand: Inflation returns to target range in July

August 13, 2019

Consumer prices rose 0.06% month-on-month in July, contrasting the 0.36% decrease in June. The marginal uptick in July was driven by more expensive transportation and communication prices, while energy and vehicle maintenance prices also rose. Meanwhile, food and non-alcoholic beverages prices were virtually stable in July.

Inflation, meanwhile, ticked up from 0.9% in June to 1.0% in July, returning to the Central Bank’s 1.0%–4.0% target range. Core inflation, lastly, edged down to 0.4% in July from 0.5% in the prior month.

Going forward, FocusEconomics Consensus Forecast panelist see inflation picking up slightly but remaining relatively muted. The panel expects inflation to average 1.1% in 2019, which is unchanged from last month’s forecast. For 2020, panelists predict average inflation of 1.4%. The Bank of Thailand, meanwhile, foresees inflation averaging 1.0% in both 2019 and 2020.

Author:, Economist

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Thailand Inflation Chart

Thailand Inflation July 2019

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

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