Thailand's annual inflation rate rose to 0.73 percent in February 2019 from 0.27 percent in the previous month and above market consensus of 0.58 percent. Still, it remained below the central bank's target range of 1-4 percent for a fourth straight month. Inflation picked up for food & non-alcoholic beverages (1.9 percent vs 1.3 percent in January) and apparel & footwear (0.6 percent vs 0.2 percent); but was unchanged for recreation & education (at 0.3 percent) and slowed for housing & furnishing (0.7 percent vs 0.8 percent) and medical & personal care (0.3 percent vs 0.7 percent). By contrast, transport & communication prices continued to fall (-0.7 percent vs -1.9 percent). Core consumer prices, which exclude raw food and energy, increased by 0.6 percent in January, missing expectations of 0.7 percent. On a monthly basis, consumer prices went up 0.24 percent in February, the first monthly rise in four months. Inflation Rate in Thailand averaged 4.11 percent from 1977 until 2019, reaching an all time high of 24.56 percent in June of 1980 and a record low of -4.38 percent in July of 2009.
Inflation Rate in Thailand is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Thailand to stand at 1.00 in 12 months time. In the long-term, the Thailand Inflation Rate is projected to trend around 2.20 percent in 2020, according to our econometric models.