Thailand Inflation May 2022

Consumer prices rose 1.40% from the previous month in May, accelerating from April’s 0.34% increase. May’s result was the highest reading since September 2021. The increase was primarily driven by rising prices for food and non-alcoholic beverages.

Inflation rose to 7.1% in May from April’s 4.6%. May’s figure represented the highest inflation rate since July 2008. Annual average inflation rose to 3.0% in May (April: 2.7%). Finally, core inflation rose to 2.3% in May, from the previous month’s 2.0%.

FocusEconomics Consensus Forecast panelists see inflation averaging 2.0% in 2022, which is up 0.3 percentage points from last month’s forecast, while in 2023 panelists predict average inflation of 1.3%.