Thailand's annual inflation rate rose to 1.24 percent in March 2019 from 0.73 percent in February and above market consensus of 0.93 percent. It was the highest inflation rate since September last year, amid a faster rise in cost of food & non-alcoholic beverages (2.4 percent vs 1.9 percent in February) and a sharp rebound in cost of transport & communication prices (0.8 percent vs -0.7 percent). At the same time, inflation was unchanged for both medical & personal care and recreation & education (at 0.3 percent, respectively). Meantime, inflation slowed for both apparel & footwear (0.3 percent vs 0.6 percent) and housing & furnishing (0.6 percent vs 0.7 percent). For this year, the central bank expects inflation to be in the range of 1-4 percent. Core consumer prices, which exclude raw food and energy, increased by 0.58 percent in March, while markets had expected 0.6 percent. On a monthly basis, consumer prices went up 0.11 percent in March, after a 0.08 percent fall in February 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 0.80 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.