Thai inflation rate decreased by 0.83% in December surpassing forecasted value

Thailand’s consumer price index (CPI) dropped for the eighth consecutive month in December, falling below the Bank of Thailand’s target range.

• The December CPI decrease was the lowest in 34 months, indicating a prolonged period of low inflation in the country.
• The forecast for 2024 suggests that Thailand’s inflation rate may continue to remain low, potentially even turning negative in January.

Thailand’s consumer price index (CPI) dropped 0.83% in December, marking the eighth consecutive month that it has fallen outside the Bank of Thailand’s target range. This decline is the lowest in 34 months and the third straight month of decline.

The core CPI was up 0.58% in December, slightly below the forecasted rise. Inflation for 2023 was at 1.23%, with a forecast for this year to be between -0.30% to 1.7%. The economy is still expanding, but there is a possibility of negative…