Thailand's annual inflation rate fell to 0.87 percent in June 2019 from 1.15 percent in May and below market consensus of 1.1 percent. Prices fell for transport & communication (-1.6 percent vs 0.1 percent in May) and apparel & footwear (-0.2 percent vs 0.1 percent). Also, cost of medical & personal care slowed (0.1 percent vs 0.2 percent). Meanwhile, inflation was steady for housing & furnishing (at 0.3 percent, the same as in May); and prices rose further for food & non-alcoholic beverages (3.1 percent vs 2.8 percent), its highest since December 2014; recreation & education (0.8 percent vs 0.3 percent). For 2019, the central bank expects headline inflation at 1 percent. Core consumer prices, which exclude raw food and energy, rose 0.48 percent, easing from a 0.54 percent gain in May, less than estimates of 0.51 percent. It was the lowest figure since August 2017. On a monthly basis, consumer prices fell 0.36 percent, after a 0.48 percent rise in May. Inflation Rate in Thailand averaged 4.09 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 1.10 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.