Inflation in Thailand
Thailand - Inflation
Inflation falls to seven-month low in August
Consumer prices fell 0.19% month-on-month in August, contrasting the 0.06% increase in July. The result reflected lower prices for food and non-alcoholic beverages and transportation and communication.
Inflation ticked down from 1.0% in July to 0.5% in August, representing the lowest print in seven months. Moreover, the print was below the 0.9% that market analysts had expected. Core inflation, lastly, edged up to 0.5% in August from 0.4% in the prior month.
Against this backdrop, Prakash Sakpal, an economist at ING, comments that:
“Besides housing and transport, a sustained Thai baht (THB) appreciation has also weighed on inflation, while global oil prices, often a key source of imported inflation, have also been missing this year. These trends look as if they are here to stay, thanks to Thailand’s strong external payments position and weak global demand weighing on the oil prices.”
Going forward, FocusEconomics Consensus Forecast panelist see inflation picking up slightly but remaining relatively muted. The panel expects inflation to average 1.1% in 2019, which is unchanged from last month’s forecast. For 2020, panelists predict average inflation of 1.4%. The Bank of Thailand, meanwhile, foresees inflation averaging 1.0% in both 2019 and 2020.
Thailand - Inflation Data
|Inflation Rate (CPI, annual variation in %)||2.2||1.9||-0.9||0.2||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||30.56||0.17 %||Sep 04|
|Stock Market||1,659||-1.41 %||Sep 04|
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September 2, 2019
Consumer prices fell 0.19% month-on-month in August, contrasting the 0.06% increase in July.
August 26, 2019
Manufacturing output fell 3.2% year-on-year in July, up from June’s revised 5.3% contraction (previously reported: -5.5% year-on-year).
August 21, 2019
Exports rose 4.3% over the same month last year in July, contrasting both June’s 2.1% drop and the 2.3% decline that market analysts had expected.
August 19, 2019
Economic growth decelerated to 2.3% in annual terms in the second quarter as U.S.-China trade tensions and a strong baht hindered tourism, agricultural output and exports.
August 13, 2019
Consumer prices rose 0.06% month-on-month in July, contrasting the 0.36% decrease in June.