TCC: PPI March 2026 Up 6%, Q2 Volatility Ahead

Khaosod•Economy•2d ago

Reader Briefing

Thailand's Producer Price Index rose 6% in March 2026 due to global energy prices, with the second quarter of 2026 projected to maintain high volatility.

•The Thai Producer Price Index (PPI) reached 114.5 in March 2026, a 6% increase attributed to rising global energy prices.
•Key sectors contributing to the price hike include industrial products like refined oil and gold, driven by global economic uncertainty.
•Despite rising costs for some sectors, agricultural and fishery products, along with mining products, saw price decreases.
•The second quarter of 2026 is anticipated to experience continued volatility in the PPI, influenced by global energy price fluctuations and currency exchange rates.
•The ongoing Middle East conflict is a significant factor driving increased production costs and impacting the competitiveness of domestic products.

Overview

•The Producer Price Index for Thailand in March 2026 stood at 114.5, reflecting a 6% expansion from the same period last year.
•The significant increase was driven by rising global energy prices, impacting industrial products such as refined oil and gold.
•Industrial product prices increased by 8.2%, driven by higher costs for gold and other industrial products due to global economic uncertainty.
•Petroleum refining products, including various fuels, saw price increases aligned with global crude oil prices due to the Middle East conflict.
•Agricultural and fishery products decreased by 5.8%, influenced by factors like the strong Thai baht and increased production.
•Mining products decreased by 11.2%, primarily due to lower prices for crude oil and natural gas, despite an increase in tin ore prices.
•The Producer Price Index in Q2 2026 is expected to experience high volatility due to ongoing global energy price adjustments and economic uncertainty.
•The Producer Price Index's rise in March 2026, stemming from the Middle East conflict, has led to higher refined oil prices domestically, significantly increasing production costs for many industries.

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Key Quotes

Nantaphong Jiralertpong

"The overall producer price index in March 2026 increased as a consequence of the Middle East conflict, causing domestic refined oil prices to rise in line with global market conditions, significantly impacting production costs across many industries, necessitating manufacturers to adjust prices upwards accordingly."

ดัชนีราคาผู้ผลิตเดือนมี.ค.2026 ในภาพรวมปรับตัวสูงขึ้นเป็นผลสืบเนื่องจากสถานการณ์ความขัดแย้งในตะวันออกกลาง ซึ่งส่งผลให้ราคาน้ำมันสำเร็จรูปในประเทศสูงขึ้นตามภาวะของตลาดโลก กระทบต่อต้นทุนในภาคการผลิตของหลายอุตสาหกรรมอย่างมีนัยสำคัญ ส่งผลให้ผู้ผลิตจำเป็นต้องปรับเพิ่มราคาสินค้าตามต้นทุนที่สูงขึ้น

Key Entities

Organization

Office of Trade Policy and Strategy(สนค.)

The organization that issued the report on Thailand's Producer Price Index.

Person

Nantaphong Jiralertpong(นายนันทพงษ์ จิระเลิศพงษ์)

Director of the Office of Trade Policy and Strategy, who commented on the inflation report.