The Office of Trade Policy and Strategy (OTPS) revealed that inflation in October 2026 hit 3.90%, the highest in 45 months, pressured by a 29.18% surge in oil prices and flood-impacted fresh vegetables. Meanwhile, the Ministry of Commerce is accelerating the distribution of affordable goods to ease living costs.
Mr. Nantapong Jiralertpong, Director of the Office of Trade Policy and Strategy (OTPS), disclosed that the general consumer price index for October 2026 was 103.90 compared to October 2025, resulting in a general inflation rate of 3.90%, the highest in 45 months since January 2023. The key factor was a 29.18% increase in fuel prices following global energy trends, contributing 2.18% to the inflation rate. Additionally, the oil price base in October 2025 was low, and flooding caused higher prices for some products, especially fresh vegetables, pushing overall inflation higher. Core inflation stood at 1.58%, indicating that energy and certain food prices were the main drivers in October 2026. Compared to September 2026, inflation rose by 0.94%, and the 10-month average (Jan–Oct 2026) was up 1.77% compared to the same period in 2025.
“Although October 2026 inflation is the highest in 45 months, it remains much lower than the peak during the Russia-Ukraine war energy crisis starting February 2022, when inflation jumped immediately to 5.28% and ranged between 4.65% and 7.86% throughout 2022,” he said.
Inflation in November 2026 is expected to remain positive, with factors to watch including high global energy prices, costs of processed foods and transportation, and weather conditions affecting some agricultural product prices. However, government energy measures, the Ministry of Commerce’s price controls, and easing flood situations should help mitigate price pressures and protect citizens’ living costs. The Ministry continues to forecast 2026 general inflation within 1.8% to 2.2%, centering on 2.0%.
Meanwhile, the Ministry of Commerce has fully implemented measures to manage living costs by driving the “Thai Help Thai Blue Flag Cost Reduction” project through 3,036 affordable product outlets nationwide over 90 days. The ministry collaborates with 27 private companies to discount 4,223 products and services by as much as 78% during October–November 2026. It also closely monitors energy costs, transportation, and product prices, coordinating with producers and sellers to maintain price stability as long as possible to ease the public’s financial burden.
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