10 Feb 2022 Thai Economy Prices of goods continue to rise, while incomes decline – putting pressure on KR-ECI, which fell to a historic low in January 2022 คะแนนเฉลี่ย คะแนนเฉลี่ย 5 stars 4 stars 3 stars 2 stars 1 star The Omicron variant has not led to the implementation of stricter COVID-19 preventive measures and its impact on economic activity was relatively limited. However, the climbing prices of goods – especially fresh food like pork as well as energy prices which remained at high levels – put pressure on households’ purchasing power, causing the current KR-ECI to drop for the fourth consecutive month to a historic low of 30.9. Meanwhile, the 3-Month Expected KR-ECI is situated at 33.2, indicating that Thai households perceive that cost of living will continue to go up.KResearch conducted an additional survey related to Thais’ opinions towards the expected duration of soaring product prices and households’ methods of coping with the issue. Findings revealed that the longer the period that some households expect the prices of goods to go up, the more likely they are to reduce unnecessary expenses. However, those who perceive the rise in product prices to be temporary (one month for instance) are more inclined to use their personal savings to cope with the rising expenses. The higher goods prices have affected purchasing power at present as reflected in the use of personal savings, and are expected to trigger cuts in expenses that are deemed unnecessary in the forthcoming period.Product prices will tend to remain high for the upcoming period, or at least until the end of 1Q22. This is mainly attributed to an uptick in energy prices, which indirectly affect goods prices via rising transportation and production costs, while also directly affecting households via increased passenger fares and prices of energy-related products. Since economic activities have yet to return to pre-COVID-19 levels, the Thai government’s relief measures and schemes to ease households’ burdens will remain essential amid highly fragile economic conditions and households livelihoods. View full article Login / Register Or Enter the code from the poll Annotation This research paper is published for general public. It is made up of various sources. Trustworthy, but the company can not authenticate. reliability The information may be changed at any time without prior notice. Data users need to be careful about the use of information. The Company will not be liable to any user or person for any damages arising from such use. The information in this report does not constitute an offer. Or advice on business decisions Anyhow. Thai Economy KR-ECI Related Analysis View all 12 Mar 2018 Thai Economy Households are Cautious about Spending in 1Q18 According to a survey on household economic conditions for February, views of Thai households across the country toward economic conditions and the cost of living over the next three months remained unchanged. This is reflected in the 3-month Expected KR-ECI that was static at 47.1 in February. Households still had positive views toward income and employment, given the daily minimum wage rise slated for April 2018, while prices of some key agricultural produce, namely “Hom Mali” rice and cassava, have begun to increase. However, households were concerned about growing debt.... Read more 0 KB 0 KB 19 Feb 2018 Thai Economy Thai economy continues to grow in 2018 Growth of 4.0% is expected (Business Brief No.3727) The Thai economy in 4Q17 was buoyed by high growth in exports and tourism, while household consumption started to improve compared to... Read more 0 KB 0 KB 9 Feb 2018 Thai Economy Official launch of EEC: Key to Thailand’s Economic Development (Current Issue No. 2899 Full Ed.) The National Legislative Assembly (NLA) has approved the Eastern Economic Corridor (EEC) bill which is expected to boost investor confidence in large-scale, long-term investments by providing private investors additional incentives, namely non-tax privileges and a speedier process for licensing, in addition to the government's efforts to promote EEC investment through infrastructure projects and tax incentives. ... Read more 0 KB 0 KB 22 Jan 2018 Thai Economy Thai Household Debt May Fall to 77-78% of GDP in 2018 (Current Issue No. 2896) In 3Q17, Thailand's household debt fell from 78.4 percent of GDP – as recorded in 2Q17 – to 78.3 percent of GDP, which could be the res... Read more 0 KB 0 KB 18 Jan 2018 Thai Economy Economy Likely Unfazed by THB5-22 Daily Minimum Wage Hikes Nationwide (Business Brief No.3722 Full Ed.) The National Wage Committee recently agreed to raise the daily minimum wage to THB315.97, on average, or a range of THB308-330 across the... Read more 0 KB 0 KB 12 Jan 2018 Thai Economy Household sentiment toward economy continues to improve for 3 straight months, sending positive signal for private consumption in 1Q18 ... Read more 0 KB 0 KB View all