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5 Feb 2026

Thai Economy

Thailand’s inflation in January 2026 stood at (-)0.66%; full-year forecast maintained at 0.4% (Business Brief No.4240 Full Ed.)

คะแนนเฉลี่ย
  • Thailand’s headline inflation in January 2026 remained negative for the 10th consecutive month, deepening to (-)0.66 percent YoY, driven by price declines in energy, several fresh food items, and personal care products. 
  • Given this, KResearch maintains its forecast for Thailand’s headline inflation in 2026 at 0.4 percent, supported by potential increases in prices of certain fresh food items and core inflation, which is expected to remain positive despite ongoing supply-side pressures from energy prices. Inflation is expected to turn positive from 2Q26 onwards, partly due to a low base effect from the previous year and a potential recovery in some fresh food prices amid prevailing El Niño conditions. 
  • In the meantime, deflationary risks must be closely monitored, as the share of items in the inflation basket showing price declines has continued to broaden. This has occurred amid slowing demand and intensifying competition from imports.

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Thai Economy