Thailand’s inflation last month rose 108.92 points, or 3% year-on-year, commerce permanent secretary Yanyong Phuangrach said on Tuesday.
Mr Yanyong said December inflation rose 0.16 per cent from November . The annual average inflation for 2010 stood at 3.3 per cent.The increase was in line with the ministry’s forecast at 3.0 to 3.5 per cent, he said. Inflation should be between 3.2 and 3.7 per cent in 2011, he said.
Due to sharp increases in food and energy prices, annual inflation accelerated to 3% in December from 2.8% in the previous month. The commerce ministry forecasts inflation to stay between 3% and 3.5% this year. Month-on-month, consumer prices climbed 0.16%.
The Bank of Thailand had resumed monetary policy tightening in December in anticipation of a rise in inflationary pressures. The policy interest rate was raised by 25 basis points to 2% per annum. The central bank expects inflationary pressures to rise with increasing demand on the back of economic expansion.
The Thai baht will continue to rise as more foreign capital flows in to the domestic financial market, but stronger currency could slow what has been a strong export business.
World Bank lowers Thai GDP growth outlook to 2.2%
In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.
BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.(more…)
Thailand’s Economy and COVID-19: Five Things to Know
Thailand’s GDP fell by 6.1 percent in 2020, the largest contraction since the Asian financial crisis. The tourism sector, which accounts for about a fifth of GDP and 20 percent of employment, has been especially affected by the cessation of tourist travel.
Like many countries, Thailand’s economy was hit hard by the COVID-19 pandemic last year. The country’s GDP fell by over 6 percent in 2020 and many workers, especially those related to the tourism sector, lost their jobs.(more…)
Subscribe via Email
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...
Thailand’s Vaccine Strategy: What went wrong?
Questions are being asked, and not answered, over the decision to rely almost entirely on Siam Bioscience, a local, palace-owned...
Exclusive interview with Richi Kukreja, HR Lead Director for Zoetis South East Asia
Zoetis is a global animal health industry leader, dedicated to supporting customers and their businesses in ever better ways. Building...