Inflation in Thailand
Thailand - Inflation
Inflation jumps in September
Consumer prices in Thailand increased 0.58% over the previous month in September, up from 0.11% in August. The increase in consumer prices was chiefly driven by higher prices for non-food and beverages, food and non-alcoholic beverages, raw food and energy and housing and furnishing. The increase in prices was broad-based, as all subgroups recorded higher prices in September compared to the prior month.
Inflation rose from 0.3% in August to 0.9% in September, coming in above market expectations of a more modest reading of 0.5%. As a result, inflation approached the lower band of the Central Bank’s 1.0%–4.0% target range, but nevertheless remained below the target for the seventh consecutive month. Core inflation, meanwhile, remained steady for the sixth consecutive month at 0.5%. While subsidies and state price controls have limited inflation, recent trade data indicates a fairly robust domestic market with economic activity picking up. However, as inflation remains below target, the Bank of Thailand is likely to keep the monetary policy unchanged when it meets on 8 November.
The Bank of Thailand now foresees inflation of 0.6% in 2017 and 1.2% in 2018. FocusEconomics Consensus Forecast panelists expect inflation of 0.8% 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%, which is unchanged from last month’s estimate.
Thailand - Inflation Data
| 2012 | 2013 | 2014 | 2015 | 2016 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 3.0 | 2.2 | 1.9 | -0.9 | 0.2 |
Thailand Inflation Chart
Source: Bureau of Trade and Economics and FocusEconomics calculations.
Thailand Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.24 | 0.0 % | Oct 16 |
| Exchange Rate | 33.03 | -0.25 % | Oct 16 |
| Stock Market | 1,727 | 0.83 % | Oct 16 |
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Economic News
Thailand: Inflation jumps in September
October 9, 2017
Consumer prices in Thailand increased 0.58% over the previous month in September, up from 0.11% in August.
Thailand: Bank of Thailand leaves policy rate unchanged in September
October 6, 2017
At its 27 September monetary policy meeting, the Bank of Thailand (BoT) voted unanimously to maintain the one-day repurchase rate at 1.50%, where it has been for over two years.
Thailand: Manufacturing output beats expectations in August
September 30, 2017
Manufacturing output increased 3.7% year-on-year in August, which is slightly above the pace of expansion seen in the prior month (July: +3.4% yoy; previously reported: +3.7% yoy) and overshot market expectations of a markedly slower pace of growth.
Thailand: Export growth reaches multi-year high despite strong baht currency
September 29, 2017
Thailand’s external sector recorded a USD 2.1 billion surplus in August following the first trade deficit since April 2015 in July.
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).
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