Latest reading: Inflation ticked up to 2.4% in July, following June’s 2.3%. Looking at the details of the release, prices...
Inflation in Thailand
Consumer price inflation in Thailand averaged 1.1% in the ten years to 2024, in line with the ASEAN regional average of 3.0%. The 2024 average figure was 0.4%. For more information on inflation, 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
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | -0.8 | 1.2 | 6.1 | 1.2 | 0.4 |
| Inflation (CPI, ann. var. %, eop) | -0.3 | 2.2 | 5.9 | -0.8 | 1.2 |
| Inflation (Core, ann. var. %, aop) | 0.3 | 0.2 | 2.5 | 1.3 | 0.6 |
| Inflation (PPI, ann. var. %, aop) | -1.6 | 4.7 | 10.4 | -2.4 | 1.6 |
Consumer prices post biggest decline since January 2024 in August
Latest reading: Consumer prices declined 0.8% in annual terms in August, following July’s 0.7% year-on-year decrease and marking the fifth consecutive month of deflation. Moreover, August's result represented the largest fall in consumer prices since January 2024. Food prices declined for the first time in 17 months, and price pressures for housing and utilities remained weak. In addition, the trend pointed down mildly, with annual average inflation coming in at 0.4% in August (July: 0.5%). Meanwhile, core inflation was unchanged, coming in at July's 0.8% in August. Lastly, consumer prices dropped 0.01% from the previous month in August, a more moderate decrease than July's 0.27% fall.
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 33 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.
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