Inflation in Thailand
Consumer price inflation in Thailand averaged 1.2% in the ten years to 2022, below the Asia-Pacific regional average of 2.1%. The 2022 average figure was 6.1%. For more inflation information, visit our dedicated page.
Thailand Inflation Chart
Thailand Inflation Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Inflation (CPI, ann. var. %, aop) | 1.1 | 0.7 | -0.8 | 1.2 | 6.1 |
Inflation (CPI, ann. var. %, eop) | 0.4 | 0.9 | -0.3 | 2.2 | 5.9 |
Inflation (Core, ann. var. %, aop) | 0.7 | 0.5 | 0.3 | 0.2 | 2.5 |
Inflation (PPI, ann. var. %, aop) | 0.5 | -0.7 | -1.6 | 4.7 | 10.4 |
Consumer prices declines at steeper rate in January
Consumer prices declined 1.1% in annual terms in January, following December’s 0.8% year-on-year decrease. January's reading marked the largest fall in consumer prices since February 2021. Faster decreases in prices for non-food products and food and non-alcoholic beverages were behind the reading. Annual average inflation fell to 0.7% in January (December: 1.2%). Meanwhile, core inflation edged down to 0.5% in January, from the previous month's 0.6%. Lastly, consumer prices increased 0.02% in January over the previous month, contrasting the 0.46% fall seen in December. January's result marked the highest reading since August 2023.
Commenting on the deflationary trend, United Overseas Bank’s Enrico Tanuwidjaja and Sathit Talaengsatya, stated: “Although this technical deflation is driven primarily by the government’s supply-side interventions, amid a sharp slowdown in the core inflation, this may in part reflect a weak aggregate demand in the economy. We maintain our view that the near-term growth momentum is expected to be sluggish, but it will rebound at a stronger pace in the second half of the year.”
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Thai inflation projections for the next ten years from a panel of 34 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Thai inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Thai inflation projections.
Want to get access to the full dataset of Thai inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
-
Inflation rose to 287.9% in March from February’s 276.2%. March’s figure marked the highest inflation rate since our current records...
-
Dominican Republic: Inflation increases in March
Inflation rose to 3.4% in March, above February’s 3.3%. March’s result marked the highest inflation rate since December 2023 and... -
Hungary: Inflation falls to lowest level since February 2021 in March
Inflation came in at 3.6% in March, down from February’s 3.7%. March’s result represented the lowest inflation rate since February... -
China: Consumer price inflation moderates in March; producer prices fall
Consumer inflation came in at 0.1% in March, which was down from February’s 0.7% and below market expectations of 0.4%.... -
Ukraine: Inflation declines to lowest level since November 2020 in March
Inflation came in at 4.0% in March, down from February’s 4.5%. March’s result represented the weakest inflation rate since November... -
Romania: Inflation drops in March
Inflation came in at 6.6% in March, down from February’s 7.2%. The cooling of price pressures was primarily due to... -
Czech Republic: Inflation falls to over five-year low in March
Inflation was stable at February’s 2.0% in March. March’s figure represented the weakest inflation rate since April 2018. Looking at...