Inflation Thailand 2023
Average inflation: 1.3%
Current Inflation
Inflation is low at 1.3%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in January at 5.0%. The lowest inflation was in December at -0.8%.
- Highest month
- January: 5.0%
- Lowest month
- December: -0.8%
- Difference
- 5.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 2.6%. The lowest price increase was in Core inflation with an average of 0.6%.
- Highest increase
- Food: 2.6%
- Lowest increase
- Core inflation: 0.6%
Historical Context
Current inflation is around the 5-year average of 1.7%.
- 5-year average
- 1.7%
- 10-year average
- 1.1%
- All-time high (2022)
- 6.1%
- All-time low (2015)
- -0.9%
Trend
Inflation has remained relatively stable. Compared to 2022, the difference is minimal (-4.8 percentage point).
- Change vs. previous year
- -4.8 percentage points
- Largest monthly swing
- June: -7.5 percentage points
ECB Target
Inflation is 0.7% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €101.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 5.0% | +1.8 |
| February | 3.8% | -1.5 |
| March | 2.8% | -2.9 |
| April | 2.7% | -1.9 |
| May | 0.5% | -6.6 |
| June | 0.2% | -7.5 |
| July | 0.4% | -7.2 |
| August | 0.9% | -7.0 |
| September | 0.3% | -6.1 |
| October | -0.3% | -6.3 |
| November | -0.4% | -5.9 |
| December | -0.8% | -6.7 |
| Average | 1.3% |
Data source
Data from WorldBank. Last updated: 06/01/2026.