Inflation in Thailand
Thailand - Inflation
Inflation eases in December to end year at three-month low
Consumer prices dropped 0.38% over the previous month in December, contrasting the 0.28% increase seen in November. December's result marked the sharpest fall in prices since May. The figure was primarily driven by falling prices for food and non-alcoholic beverages, while price pressures for housing and furnishing declined at a faster pace.
Inflation came in at 2.2% in December, down from November’s 2.7% and representing the lowest rate since September. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 1.2% in December (November: 1.0%). Lastly, core inflation was steady, coming in at 0.3% in December and matching November's print.
Regarding the outlook for inflation, Kyrstal Tan and Sanjay Mathur, economists at ANZ, commented:
“Looking ahead, supply-side price pressures are likely to keep inflation elevated in the near term, but the pass-through to underlying price pressures will continue to be capped by the pace of the economic recovery, which is now facing renewed headwinds. The upshot is that average inflation is likely to stay comfortably within the BoT’s 1.0%–3.0% target band for 2022, and monetary policy normalisation is unlikely to start this year.”
FocusEconomics Consensus Forecast panelists see inflation averaging 1.6% in 2022, which is up 0.3 percentage points from last month’s forecast, while in 2023 panelists predict average inflation of 1.2%.
Thailand - Inflation Data
|Inflation Rate (CPI, annual variation in %)||-0.9||0.2||0.7||1.1||0.7|
5 years of economic forecasts for more than 30 economic indicators.
Thailand Inflation Chart
Source: Bureau of Trade and Economics and FocusEconomics calculations.
|Exchange Rate||30.11||0.17 %||Dec 30|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
January 5, 2022
Consumer prices dropped 0.38% over the previous month in December, contrasting the 0.28% increase seen in November.
December 27, 2021
Manufacturing production rose 0.6% month-on-month in seasonally-adjusted terms in November, slowing from October’s 2.7% growth.
December 22, 2021
At its 22 December meeting, the Monetary Policy Committee of the Bank of Thailand (BoT) held the policy rate at the record low of 0.50% for the 13th consecutive meeting.
December 21, 2021
Merchandise exports jumped 24.7% on an annual basis in November, following October’s 17.3% upturn.
December 4, 2021
Consumer prices rose 0.28% over the previous month in November, which was below the 0.74% increase recorded in October.