Thailand Inflation October 2017


Thailand: Inflation steady in October

November 2, 2017

Consumer prices in Thailand increased 0.16% over the previous month in October, down from a 0.58% increase in September. The rise in consumer prices was chiefly driven by higher prices for food and non-alcoholic beverages and non-food and beverages. The increase in consumer prices was sufficiently broad-based, as nearly all subgroups recorded higher prices in October.

Inflation was steady at the previous month’s result of 0.9% in October, slightly above market expectations of 0.8% inflation. As a result, inflation remained just below the lower band of the Central Bank’s 1.0%–4.0% target range for the eighth consecutive month. Core inflation, meanwhile, inched up for the first time in seven months in October to 0.6%. Despite inflation remaining below target, the Bank of Thailand is likely to keep its monetary policy unchanged when it meets on 8 November, as recent trade data indicates a fairly robust domestic market with economic activity picking up pace.

The Bank of Thailand now sees inflation of 1.2% in 2018. FocusEconomics Consensus Forecast panelists expect inflation of 1.5% on average in 2018, which is unchanged from last month’s forecast. For 2019, panelists predict average inflation of 1.9%.

Author:, Economist

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Thailand Inflation Chart

Thailand Inflation October 2017

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

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