Thailand Inflation Hits 3.9% in October on Fuel Price Surge
Thailand's headline inflation rose to 3.9% in October 2026, driven by a 29% surge in fuel prices that contributed over half of the increase. The government is rolling out affordability measures including discounted goods at over 3,000 outlets and private-sector price cuts up to 78%, while Thailand's inflation remains among the lowest in ASEAN.
TPSO Director Nantaphong Chirapattarapong disclosed that the general Consumer Price Index (CPI) for October 2026 stood at 103.90, pushing the headline inflation rate up 3.90% year-on-year. The key driver was a 29.18% surge in fuel prices (in October 2025, diesel was 31.35 baht/liter, Gasohol 95 at 32.27 baht, and Gasohol 91 at 31.68 baht; while in October 2026, diesel reached 42.70 baht, Gasohol 95 at 41.47 baht, and Gasohol 91 at 40.92 baht). Fuel contributed 2.18 percentage points, or about 56% of total inflation, tracking global energy prices and a low base from the previous year. Core inflation stood at 1.58%, reflecting that energy and certain food groups drove this month's change. Month-on-month, the CPI rose 0.94%, and the 10-month average increased 1.77% year-on-year.
Compared internationally, Thailand's September 2026 headline inflation of 2.82% ranked 37th lowest among 139 economies and 5th lowest among 10 ASEAN nations, below Indonesia, Vietnam, Cambodia, the Philippines, and Laos, indicating Thailand's inflation remains relatively low regionally.
The TPSO surveyed 5,553 respondents nationwide from October 5-26, 2026, finding the public prioritizes measures to reduce daily living costs, especially energy prices (both fuel and electricity), co-payment schemes, and job creation and income support to sustain purchasing power and long-term quality of life.
The Ministry of Commerce is fully pursuing cost-of-living measures, driving the 'Thai Helps Thai, Blue Flag Reduces Cost of Living' campaign through 3,036 affordable goods outlets nationwide for 90 days, ensuring public access to essential goods at fair prices. It has also partnered with 27 private firms offering discounts up to 78% on 4,223 products and services in October-November 2026. To expand consumer choices and ease living costs, the ministry is closely monitoring energy costs, transport costs, and product prices, coordinating with producers and distributors on cost management and fair pricing, and directing all 76 provincial commerce offices to continuously track local prices and supply.
For November 2026, inflation is expected to remain positive, with key factors to watch including high global energy prices, processed food and transport costs, and weather impacts on some agricultural products. Government energy measures, Commerce Ministry price controls, and easing flood conditions should help moderate pressure.
