Inflation drops 0.76% in October, with "Let’s Go Halves Plus" scheme set to boost spending
Thailand’s inflation dips 0.76% in October, with the "Let’s Go Halves Plus" programme expected to help drive a recovery, targeting a 0% inflation rate for the year.
According to the Trade Policy and Strategy Office (TPSO), Thailand’s consumer price index (CPI) for October 2025 stood at 100.00, marking a 0.76% decrease compared to the same period last year. This marks the seventh consecutive month of inflation decline, driven by lower energy and electricity prices due to government measures aimed at reducing living costs.
Nantapong Chiralerspong, Director-General of the TPSO, explained that the main factors behind the negative inflation are the global decline in energy prices, as well as the government’s “Quick Big Win” programme, which reduced energy costs for both oil and electricity. This has resulted in a reduction in overall living expenses.
Meanwhile, consumer goods such as pork, eggs, fresh vegetables, fruits, and personal care products also saw price drops, thanks to increased supply and sales promotions from businesses.
Overall, non-food and beverage categories fell by 1.10%, mainly due to price reductions in energy, clothing, and personal care products. The food and non-alcoholic beverage category dropped by 0.17%, with fresh produce like vegetables, fruits, meat, and eggs seeing lower prices.
However, some products, including housing rents, overseas travel, and hairdressing services, experienced price increases, reflecting the partial recovery of the service and tourism sectors.
When fresh food and energy are excluded, the core inflation for October increased by 0.61% compared to the previous year, slightly down from 0.65% in September, reflecting still-low inflationary pressures.
In comparison with other countries, Thailand’s overall inflation rate in September 2025 was 0.72% lower than the previous year, ranking as the sixth lowest among 140 economies worldwide, and the lowest in ASEAN, compared to countries like Brunei, Singapore, Timor-Leste, Malaysia, the Philippines, Cambodia, Indonesia, Vietnam, and Laos.
The TPSO predicts that inflation may continue to decline in the final two months of 2025, thanks to stable Dubai crude oil prices and ongoing government measures to help reduce living costs, including a reduction in fuel tariffs (Ft) to 3.94 baht per unit and domestic tourism promotions, which will lower accommodation and service costs.
However, the year-end spending boost and the “Let’s Go Halves Plus” economic stimulus programme are expected to provide significant support, helping inflation return to positive territory by the year’s end. The Ministry of Commerce has revised its annual inflation forecast for 2025 to 0%, down from the earlier estimate of 0.5%.
“The Let’s Go Halves Plus measure will stimulate consumer spending in the final months of the year, boosting economic circulation. We expect this to be a key driver for Thailand’s inflation to return to positive growth after several months of negative inflation,” Nantapong said.
