Thailand Inflation Accelerates to 2.53% in August on Fuel and Food Costs

Key Facts

Thailand's headline inflation accelerated to 2.53% year on year in August 2026 from 1.95% in July, according to the Commerce Ministry's Trade Policy and Strategy Office. The consumer price index stood at 102.67, compared with 100.14 in August 2025.

Consumer prices rose 0.56% from the previous month after falling 0.73% in July. Core inflation, which excludes fresh food and energy, also accelerated to 1.44% year on year from 1.34%.

Food and non-alcoholic beverage prices increased 2.99% from a year earlier, while non-food goods and services rose 2.23%. The ministry attributed the pickup mainly to domestic fuel, prepared meals, eggs, chicken, vegetables and fruit, while cheaper electricity and some personal-care products provided an offset.

The August reading of 2.53% sits within the Bank of Thailand's 1% to 3% medium-term headline-inflation target. A single monthly reading inside that range does not automatically determine interest-rate policy, however, because the central bank also assesses the inflation outlook, growth and financial stability.

The Monetary Policy Committee had unanimously held its policy rate at 1.00% on August 26. It described the current rate as appropriate for supporting the recovery, while expecting a temporary rise in inflation and continuing to monitor cost pass-through, Middle East risks and inflation expectations.

Average inflation for the first 8 months of 2026 was 1.37% from the same period of 2025. The Commerce Ministry retained its 2026 average-inflation forecast of 1.5% to 2.5%, with a 2.0% midpoint, and expected annual inflation to remain positive in September.

The ministry said fuel, prepared food, transportation and selected fresh-food prices could lift inflation in September. An offset will come from the electricity tariff for the September–December 2026 billing cycle, which falls to 3.86 baht per unit from 3.95 baht.

Attention now turns to the next price and activity data ahead of the Monetary Policy Committee's scheduled decision on October 28, 2026. The persistence of food and energy pressures, and their transmission into core inflation, will matter more for the rate outlook than one monthly reading alone.