Thailand Inflation Rate Cools in July

2026-08-05 03:34 By Kyrie Dichosa 1 min. read

The annual inflation rate in Thailand eased to 1.95% in July 2026 from 2.42% in June and below market expectations of 2.55%.

The reading remained within the Bank of Thailand’s 1%-3% target range, with Nantapong Chiralerspong, director-general of the Commerce Ministry, attributing the slowdown mainly to a sharp decline in domestic fuel prices in July, in line with lower global oil prices.

Thailand had been particularly vulnerable to the shock due to its reliance on crude oil imports from the region, with higher energy costs earlier this year lifting inflation after a year-long period of deflation.

Meanwhile, core inflation, which excludes volatile energy and fresh food prices, accelerated to 1.34% in July from 1.23% in June, reflecting higher input costs for personal-care products and prepared food.

On a monthly basis, consumer prices fell 0.73%, following a 0.34% decline in June.

The Commerce Ministry expects headline inflation to rise in August and sees it averaging 2.09% in Q3.



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Thailand Inflation Rate at 3-Month High
Thailand’s annual inflation rate accelerated for the first time in four months to 2.53% in August 2026, from 1.95% in July, surpassing market expectations of 2.2%. It was the fastest increase since May, boosted by higher domestic fuel prices amid rising oil prices due to the ongoing conflict in the Middle East. However, the latest reading remained within the Bank of Thailand’s 1%-3% target range. Non-food inflation rose by 2.23%, while food and non-alcoholic beverages inflation increased by 2.99%. Meanwhile, the annual core inflation rate, which excludes volatile energy and fresh food prices, accelerated to 1.44% in August 2026 from 1.34% in July, marking the highest reading since May 2023 and exceeding forecasts of 1.33%. Thailand's Ministry of Commerce maintained its 2026 headline inflation forecast at 1.5%-2.5%, with a 2.0% midpoint. On a monthly basis, consumer prices rose 0.56%, rebounding from a 0.73% decline in July and marking the fastest increase in four months.
2026-09-07
Thailand Inflation Rate Cools in July
The annual inflation rate in Thailand eased to 1.95% in July 2026 from 2.42% in June and below market expectations of 2.55%. The reading remained within the Bank of Thailand’s 1%-3% target range, with Nantapong Chiralerspong, director-general of the Commerce Ministry, attributing the slowdown mainly to a sharp decline in domestic fuel prices in July, in line with lower global oil prices. Thailand had been particularly vulnerable to the shock due to its reliance on crude oil imports from the region, with higher energy costs earlier this year lifting inflation after a year-long period of deflation. Meanwhile, core inflation, which excludes volatile energy and fresh food prices, accelerated to 1.34% in July from 1.23% in June, reflecting higher input costs for personal-care products and prepared food. On a monthly basis, consumer prices fell 0.73%, following a 0.34% decline in June. The Commerce Ministry expects headline inflation to rise in August and sees it averaging 2.09% in Q3.
2026-08-05
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