Thailand Consumer Prices Fall Faster in January

Consumer prices in Thailand fell 0.66% year-on-year in January 2026, larger than the expected 0.40% drop and picking up from a 0.28% decline in December. This marked the tenth consecutive month of deflation and the steepest fall in three months, keeping inflation well below the central bank’s 1%–3% target range. The commerce ministry said the decline was driven by lower energy prices and government measures to ease living costs. Headline consumer prices are expected to remain negative through April before turning positive. Meanwhile, core consumer prices, which exclude volatile items such as food and energy, continued to rise, up 0.60% annually, slightly above both forecasts and December’s 0.59% increase.