Bangkok: The inflation rate in March 2026 decreased by 0.08 percent, marking a positive outcome from efforts to stabilize oil prices. The Ministry of Commerce implemented measures to freeze oil prices, reduce electricity rates, and utilize existing commodity stocks, contributing to the decrease.

According to Thai News Agency, Mr. Nantapong Chiraleartpong, Director of the Trade Policy and Strategy Office (TPSO) and spokesperson for the Ministry of Commerce, stated that the overall inflation rate showed a slowdown in the rate of decline. This occurred amid conflicts in the Middle East and attempts to close the Strait of Hormuz, which disrupted the transportation of fuel and other key goods, causing global crude oil prices to surge.

Despite the international turmoil, domestic retail fuel prices remained constrained by price freezes implemented in the first half of the month. Reduced electricity rates further alleviated the cost of living. While most goods remained in stock, preventing price increases, prices of food and non-alcoholic beverages rose. The core inflation rate, excluding fresh food and energy, increased by 0.57% year-on-year, slightly up from February 2026's 0.56% rise. Compared to February 2026, the March inflation rate increased by 0.60% month-on-month due to higher fuel prices following rising global crude oil prices.

The Ministry anticipates an overall inflation trend returning to positive territory in the second quarter of 2026, driven by rising fuel prices, tensions in the Middle East, and increasing prices of some agricultural products, particularly fresh vegetables and eggs. Meat prices, including pork and chicken, have risen due to higher feed and transportation costs. Airfare has also increased, and major businesses are signaling price adjustments for consumer goods to reflect rising raw material and transportation costs. Consequently, the Ministry of Commerce has revised its forecast for the overall inflation rate in 2026 from the previous range of 0.0 - 1.0 percent (midpoint 0.5 percent) to 1.5 - 2.5 percent (midpoint 2.0 percent).