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Thailand’s consumer price index (CPI) rises 3% year-on-year in April

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Thailand’s consumer price index (CPI) in April stood at 107.66,  an increase of 3 per cent compared to the corresponding period of 2009, Permanent Secretary for Commerce Yanyong Phuangrach announced on Monday. It was the seventh consecutive monthly rise of the CPI due to the increase of 3.7 per cent in food and beverage prices.

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The CPI in April rose 0.49 per cent from March due to increase in prices of food and several consumer goods and oil retail prices, Mr Yanyong said.

He said core inflation in April rose 0.28 per cent from the previous month and jumped 0.5 per cent year-on-year.

Despite the current political turmoil in Thailand, Mr Yanyong said the ministry still  maintained this year’s inflation at between 3-3.5 per cent, as he believed that the unrest had not yet affected consumption patterns, but may impact the price of certain goods such as construction materials.

via Inflation rises 3% year-on-year in April.

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The COVID-19 pandemic has been a perfect storm, destroying jobs, worsening poverty and inequality, and creating a public and private debt problem—especially for countries and firms already in fragile financial health beforehand

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Economics

50:50 campaign may not get immediate extension

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BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.

The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.

Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.

The campaign has already been extended once, with the current end date set for 31st March.

The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.

The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.

Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.

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Economics

Customs Department Considers Measures to Help SMEs

National News Bureau of Thailand

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BANGKOK (NNT) – The Customs Department is seeking ways to reduce the impact of the exemption on import tax and value-added tax (VAT) for imported goods worth up to 1,500 baht, as such measures are hurting small and medium-sized enterprises (SMEs).

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