Inflation in Thailand
Thailand - Inflation
Inflation comes in just below target in December
Thai consumer prices were virtually unchanged in December over the prior month, as prices rose a meager 0.01% month-on-month. This contrasted the 0.13% decline registered in November. The marginal uptick reflected pricier housing and furnishing, and transportation and communication offsetting cheaper food and non-alcoholic beverages.
Meanwhile, inflationary pressures intensified but remained just below the Bank of Thailand’s target of 1.0%–4.0% as inflation came in at 0.9% in December, up from 0.2% in November. Core inflation, which excludes raw food and energy, was stable at November’s 0.5% in December.
Going forward, FocusEconomics Consensus Forecast panelist see inflation picking up slightly and returning to target; however, inflation is seen remaining relatively muted. The panel expects inflation to average 1.2% in 2020, which is unchanged from last month’s forecast. For 2021, panelists predict average inflation of 1.4%. The Bank of Thailand, meanwhile, foresees inflation averaging 1.0% in 2020.
Thailand - Inflation Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 2.2 | 1.9 | -0.9 | 0.2 | 0.7 |
Thailand Inflation Chart
Source: Bureau of Trade and Economics and FocusEconomics calculations.
Thailand Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 30.11 | 0.17 % | Dec 30 |
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Economic News
Thailand: Inflation comes in just below target in December
January 3, 2020
Thai consumer prices were virtually unchanged in December over the prior month, as prices rose a meager 0.01% month-on-month.
Thailand: Downturn in manufacturing output intensifies in November
December 27, 2019
The manufacturing sector remained in a tough spot through November, with output falling 8.3% year-on-year, which was down from the revised 8.1% drop recorded in October (previously reported: -8.5% year-on-year) and marked the steepest fall in production since January 2014.
Thailand: Exports contract sharply in November
December 23, 2019
Thai exports dropped 7.4% year-on-year in November, down from the 4.5% fall recorded in October.
Thailand: Bank of Thailand stands pat in December
December 18, 2019
At its 18 December Monetary Policy Committee meeting, the Bank of Thailand opted to stand pat and keep its policy rate at 1.25%, after having cut rates by 25 basis points in the previous two meetings.
Thailand: Inflation inches higher but remains below target
December 4, 2019
Consumer prices fell 0.13% month-on-month in Thailand in November, marginally up from the 0.16% monthly decrease in October.
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