Chart of Thailand inflation for past 10 years

Posted: May 3, 2012 in Thailand

Someone asked a question today about what the inflation rate in Thailand is, both the official rate and the gut feel rate. That got me thinking because I know that the official rate is mentioned now and then in the Thai media and from what I recall it has been around 3.5 to 4.0 % for the past few years. My gut feel is that seems about right but maybe a little on the low side, that maybe it has been running higher based on my own sampling of prices. I ended up finding this chart of the offical rate:

Chart of inflation rate in Thailand

It has fluctuated wildly over the last 10 years, over 9% in 2008 to a negative 4% in 2009. That’s the official rate. And yes it does look like it has been flat at a little under 4% for the last couple of years. I’m not sure what the big drop to negative inflation rate means because I sure did not see any price reduction at the time.

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Comments
  1. maewnam says:

    Isn’t that big drop simply the effect of the big decrease of the oil price once the financial crisis began – in June 09 oil was at less than 40$, whereas it was at 140$ one year before. And if a reasonable part of the inflation is calculated from the gas prices, it will have a direct effect.

    • geomark says:

      I don’t know how they calculate the inflation rate but you are probably right, the drop in oil price is probably a big factor. I didn’t experience drops in the prices of other things that I purchase during that time so my gut feeling wasn’t that inflation was negative.

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