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Economic
Research
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4
April 2017
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Thailand
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Economic Update
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Thailand’s consumer price index (CPI) rose
0.8% YoY in March, slowing from +1.4% the month before. The moderation in
gains was driven by a sharply slower increase in energy prices as well as a
drop in fresh food price inflation. Going forward, we maintain our forecast
for 2017 CPI to gain 1.5%, compared to +0.2% in 2016, underpinned by:
1.
rising
private consumption, on the back of higher commodity prices and farm income;
2.
a
modest demand-pull effect from the ramp-up in infrastructure construction
activities; and
3.
higher
energy costs.
We do not expect
the Bank of Thailand (BOT) to alter the policy rate in 2017, as CPI is
expected to remain manageable, and with economic growth prospects still
moderately positive.
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Tuesday, April 4, 2017
Core CPI Reflects Sluggish 1Q Consumption Growth
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