The annual inflation rate in Thailand rose to 5.89% in December 2022, accelerating from a 7-month low of 5.55% in the previous month and nearly in line with market forecasts of 5.90%. The upturn was prompted by the increases in prices for food & non-alcoholic beverages (8.87% vs 8.40% in November), namely rice & flour products (5.40% vs 4.20%) and fruits & vegetables (5.61% vs 0.87%). Also, costs rose faster for non-food products (3.87% vs 3.59%), primarily transportation (5.65% vs 4.90%) and fuel (13.78% vs 11.60%). Meanwhile, the headline CPI in 2022 surged to 6.08%, within the projected 5.5% to 6.5% rise and significantly higher compared to 1.23% in 2021, mainly underpinned by rising energy prices, the geopolitical conflict between Russia and Ukraine, and high domestic prices of fuel, electricity and LPG. On a monthly basis, consumer prices fell by 0.06%, following a 0.13% drop in November. source: Bureau of Trade and Economic Indices, Ministry of Commerce, Thailand
Inflation Rate in Thailand averaged 3.92 percent from 1977 until 2022, 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. This page provides the latest reported value for - Thailand Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Thailand Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.
Inflation Rate in Thailand is expected to be 5.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Thailand Inflation Rate is projected to trend around 3.00 percent in 2024, according to our econometric models.