The KR-ECI and 3-month Expected KR-ECI slipped to 44.9 and 46.2 for May chiefly because of substantial increases in the domestic prices of goods and services, in particular energy. Household income and employment, however, improved, due in part to continuing recovery in the Thai economy and higher farm output, which helped offset falling agricultural produce prices and buoy farm income.
KResearch expects that household sentiment toward economic conditions and the cost of living will gradually improve over the next few months partly because domestic energy prices began to decline around the end of May in line with ebbing global crude oil prices. The government has also introduced a string of measures to help ease the high cost of living for households and there have been positive signs seen in the labor market.
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