Thailand inflation surges to 3.9 per cent, breaching BOT’s target; rise first time in more than three years

The Star Malaysia · Suttinee Yuvejwattana, Satid Sutipanya · 2026-11-06 13:13 UTC

Thailand's inflation breached the central bank's target ceiling for the first time in more than three years as higher oil prices and flood-related food costs intensified price pressures.

MANILA (Bloomberg): Thailand’s inflation breached the central bank’s target ceiling for the first time in more than three years as higher oil prices and flood-related food costs intensified price pressures, though officials signaled the price spike may be temporary.

The consumer price index rose 3.9% in October from a year earlier, accelerating from 2.82% in September, Commerce Ministry data showed Friday. The reading was far faster than the 3.33% median estimate in a Bloomberg survey of economists. The Bank of Thailand aims to keep inflation in a 1% to 3% range.

"Inflation is not too high and is still acceptable given that it used to rise to 6% during the Russia-Ukraine war,” Nantapong Chiralerspong, director-general of the Commerce Ministry’s Trade Policy and Strategy Office, said at a briefing in Bangkok. "Over the past two days, we have seen oil prices fall by about 10%, driven by the potential shift in US policy.”

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