Thailand’s Inflation at a 33-Month Low

Thailand has experienced its lowest inflation rate in nearly three years, with the headline consumer price index (CPI) recording a -0.44 percent year-on-year in November. This marks the second consecutive month of negative inflation and is lower than the previous month’s -0.31 percent and the forecasted -0.30 percent. Contributing factors include government energy policies that reduced diesel prices and declines in pork and chicken meat prices. The country’s inflation has consistently been below the central bank’s target range of 1 to 3 percent for seven successive months, with core CPI at 0.58 percent year-on-year in November. From January to November, the average headline CPI rose 1.41 percent year-on-year, and core CPI increased by 1.33 percent. Looking ahead, headline inflation for the next year is expected to range between -0.3 percent to 1.7 percent, thanks to measures aimed at reducing living costs​​​​​​​​.