Bangkok: Thailand's inflation trend remains weak, with energy and electricity prices contributing to a 0.66% decline in the Consumer Price Index (CPI) for January 2026.
According to Thai News Agency, the CPI for January 2026 reflected a negative growth of 0.66 percent year-on-year due to downward pressure on energy products, particularly fuel and electricity, and price reductions in several essential items. Ms. Nattiya Suchinda, Deputy Director of the Office of Trade Policy and Strategy (OTPS), reported that the CPI stood at 99.91, marking a decrease from the same period last year.
Excluding food and beverages, other categories saw a 1.66 percent year-on-year decrease, attributed to lower prices of electricity, fuel, personal care products, and cleaning products. This decline was influenced by global energy price trends, government initiatives to reduce living costs, and competitive market dynamics. Conversely, certain items such as housing rent, automobiles, and public transport fares experienced price increases.
The food and non-alcoholic beverage sector recorded a 0.92% year-on-year rise, driven by the increased prices of fresh vegetables, prepared foods, non-alcoholic beverages, and seafood. However, the sector also saw price decreases in fresh fruit, sticky rice, eggs, cooking oil, and pork, which helped alleviate some price pressures.
Core inflation, excluding fresh food and energy, registered a year-on-year increase of 0.60 percent, indicating that the general price level of goods and services remains subdued. Month-on-month, the CPI decreased by 0.28 percent compared to December 2025, largely due to reduced fuel prices and lower electricity rates following adjustments in the automatic fuel tariff for the January-April 2026 period.
Looking ahead, the inflation trend for February 2026 is expected to remain low, influenced by lower global crude oil prices, government measures to curb living costs, a stronger Thai baht, and heightened market competition among businesses. Potential factors that could elevate inflation include rising prices of specific fresh vegetables and increased car prices due to excise tax hikes in 2026.
The National Economic and Social Development Council (NESDC) maintains its forecast for the overall inflation rate in 2026 to range between 0.0 and 1.0 percent, with a midpoint of 0.5 percent.