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Consumer prices in Thailand fell 0.49% year-on-year in November 2025, below expectations of a 0.60% decline and easing from a 0.76% drop in October. This marked the eighth consecutive month of falling prices, keeping inflation well below the central bank’s 1%–3% target range. The persistent deflation was mainly driven by lower energy costs, including household electricity and fuel, following developments in the global energy market and government measures to ease the cost-of-living burden. Over the first 11 months of the year, headline inflation was down 0.12% from the same period a year earlier. Meanwhile, core consumer prices, which exclude volatile items such as food and energy, continued to show a positive trend, rising 0.66% annually, the largest increase in three months, following a 0.61% gain and above the expected 0.57% rise.