World News
15.01.2025
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Inflation in Thailand: 2024 Overview

Inflation in Thailand Reached 1.23% in December

The Ministry of Commerce of Thailand reported that the inflation rate in December 2024 stood at 1.23%, with the average annual rate at 0.4%. Both figures align with the ministry's forecasts and fall within the lower boundary of the Central Bank's target range. On a monthly basis, consumer prices decreased by 0.18%.

Key Drivers of Inflation Growth:

  • Rising costs of fuel and fresh food.
  • Increased prices of alcohol and tobacco due to government policies.

Inflation Dynamics by Categories:

  • Food and non-alcoholic beverages: +1.28%
  • Clothing: -0.51%
  • Housing and furniture: +0.39%
  • Healthcare and personal care: -0.37%
  • Transportation and communications: +2.71%
  • Recreation and education: +0.37%
  • Alcohol and tobacco: +0.82%

Inflation by Regions:

  • Bangkok: +1.17%
  • North: +1.19%
  • Isan: +0.95%
  • Central: +1.33%
  • South: +1.91%

Outlook for 2025

The Ministry of Commerce of Thailand has maintained its forecasts for key macroeconomic indicators:

  • GDP growth: 2.3–3.3%
  • Dubai crude oil price: $70–$80 per barrel
  • Exchange rate: 34–35 baht per US dollar

Tourism Overview for 2024

Thailand welcomed 35.5 million tourists in 2024, a significant increase from 28 million in 2023.

Top 5 Countries by Number of Tourists:

  1. China: 6.733 million
  2. Malaysia: 4.952 million
  3. South Korea: 1.869 million
  4. India: 1.129 million
  5. Russia: 1.745 million

We are always ready to assist you in finding the perfect property in Thailand. If you have any questions or would like to visit our office in Phuket, feel free to contact us for a consultation!

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