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15 Nov 2022

Econ Digest

KR-ECI stabilized in October 2022…Households still concerned about product prices while the flooding situation raised concerns about expenditures, income and employment

คะแนนเฉลี่ย

        In October 2022, households remained concerned about product prices despite a slowdown in the increase of the inflation rate, while the impact of flooding that expanded to a wider area last month raised concerns about the income and employment. As a result, the KR Household Economic Condition Index (KR-ECI) stabilized at 33.8 in October 2022, while the 3-month Expected KR-ECI slightly improved to 35.7, as boosted by a better perspective over the employment after the tourism sector showed signs of continued recovery. In addition, an additional survey on the impact of flooding showed that 64.3% of the households surveyed had incurred over THB5,000 in expenditures due to flooding (an increase of 19.2% from the survey conducted in September 2022).

        Looking forward, the economic recovery and household livelihoods continue to face many key risk factors. Although the government has introduced measures to alleviate households’ cost of living, such as freezing electricity prices, continued volatile energy prices may affect the limits of the government’s subsidy measures going forward. Moreover, the flooding situation may affect households’ future expenditures, income, employment and savings. However, the year-end tourism season may help boost the economic recovery and household livelihoods. The government’s economic stimulus measures are expected to become clear by this November such as the tax deduction measure, spending and tourism stimulus measures.

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Econ Digest

KR-ECI