Thai Producer Prices Jump 10.2% in October on Energy, Weak Baht
Thailand's Producer Price Index rose 10.2% year-on-year in October 2026, driven by surging global energy prices from Middle East tensions and a weaker baht that lifted import and production costs. Mining products led gains with a 37.8% jump, while agricultural and industrial categories also increased, and officials warn cost pressures may persist into November.
The Trade Policy and Strategy Office (TPSO) reported that Thailand's Producer Price Index for October 2026 continued to expand year-on-year across agricultural, mining, and industrial product groups. Key drivers were higher global energy prices amid supply risks and a weaker baht compared to the previous year. The index stood at 117.7 in October 2026, up 10.2% from October 2025. Agricultural and fishery products rose 13.5%, led by paddy rice (from a low base and higher production costs), fresh cassava (strong export demand), rubber (geopolitical tensions boosting demand for rubber as an industrial substitute), and fresh palm fruit (higher global crude palm oil prices tracking energy markets). Prices fell for fruits such as durian and coconut due to abundant supply and weaker domestic consumption. Mining products surged 37.8%, driven by crude oil and natural gas following global energy prices, which were lifted by Middle East conflict raising supply risks and affecting production and transport, compounded by a weaker baht raising energy and related commodity costs. Industrial products increased 8.9%, with food products up on tighter raw material supply amid steady demand and global supply concerns; refined petroleum products tracking crude oil and global petroleum prices; rubber and plastic products on petrochemical feedstock costs and sustained industrial demand; computer and electronic products rising with electronics industry expansion and a weaker baht; and other industrial products such as gold following global gold prices. For November 2026, the PPI is expected to expand at a similar pace but may slow slightly, pressured by persistently high global energy prices raising production costs, while limited domestic purchasing power and partner-country economic uncertainty may cause some businesses to delay price adjustments.
