Latest reading: Inflation fell to 19.8% in May from April’s 22.2%, marking a near two-year low. Resumed Central Bank intervention...
Inflation in Thailand
In the year 2024, the inflation in Thailand was 0.40%, compared to 1.89% in 2014 and 1.23% in 2023. It averaged 1.06% over the last decade. For more inflation information, visit our dedicated page.
Thailand Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Thailand from 2014 to 2024.
Source: Macrobond.
Thailand Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 0.7 | -0.8 | 1.2 | 6.1 | 1.2 |
| Inflation (CPI, ann. var. %, eop) | 0.9 | -0.3 | 2.2 | 5.9 | -0.8 |
| Inflation (Core, ann. var. %, aop) | 0.5 | 0.3 | 0.2 | 2.5 | 1.3 |
| Inflation (PPI, ann. var. %, aop) | -0.7 | -1.6 | 4.7 | 10.4 | -2.4 |
Consumer prices drop further in May
Latest reading: Consumer prices decreased 0.6% year on year in May, following April’s 0.2% fall. May's reading represented the largest dip in consumer prices since February 2024. Price pressures for food and beverages continued to ease, reaching a near one-year low, while transport costs fell at the quickest pace since June 2023. In contrast, prices for housing and utilities dropped at a more moderate pace. Accordingly, annual average inflation fell to 0.7% in May (April: 0.8%). Meanwhile, core inflation ticked up to 1.1% in May from the previous month's 1.0%. Finally, consumer prices rose 0.26% in May over the previous month, contrasting April's 0.21% fall. May's figure was the highest reading since May 2024.
Consensus Forecasts and Projections for the next ten years
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
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Angola: Inflation nears two-year low but remains among fastest in the region in May -
Argentina: Inflation falls to lowest level since March 2021 in May Latest reading: Inflation dropped to 43.5% in May, below April’s 47.3%. May’s result marked the lowest inflation rate since March... -
United States: Inflation rises in May but undershoots expectations Latest reading: Inflation ticked up to 2.4% in May from April’s 2.3%. The reading was slightly above the Fed’s 2.0%... -
Russia: Inflation cools for second straight month but remains above target in May Latest reading: Inflation fell for the second consecutive month in May, coming in at 9.9% (April: 10.2%) and marking the... -
Thailand: Consumer prices drop further in May Latest reading: Consumer prices decreased 0.6% year on year in May, following April’s 0.2% fall. May’s reading represented the largest... -
Taiwan: Inflation declines to lowest level since March 2021 in May Latest reading: Inflation eased to 1.5% in May, below April’s 2.0%. May’s figure marked the weakest inflation rate since March... -
Dominican Republic: Inflation increases to over one-year high in May Latest reading: Inflation rose to 3.8% in May from April’s 3.7%. May’s figure represented the highest inflation rate since November...