Economics
Thai inflation climbed to 1.24% in March 2019
Core inflation stood at 0.58%YOY, stable from 0.60%YOY in the previous month following stagnated prepared food, housing rent and medical and personal care price index.
Headline inflation surged to 1.24%YOY in March, up from 0.73%YOY in the previous month. Raw food and energy prices are the main drivers for inflation growth.
Raw food price index increased by 3.75%YOY following rising rice flour and cereal products, meat and fruit and vegetable price. Lowered agricultural supply from drought caused fruit and vegetable prices to increase, the first increment in 10 months.
Meanwhile, energy price index rebounded with growth of 2.07%YOY from heightened global crude price, after dropping for 3 consecutive months (in March, Brent crude oil price averaged at 66.41 USD per barrel compared to 64.13 USD per barrel in February).
Core inflation stood at 0.58%YOY, stable from 0.60%YOY in the previous month following stagnated prepared food, housing rent and medical and personal care price index.
Headline inflation decelerated slightly to 0.74%YOY in quarter 1 from 0.84%YOY in quarter 4, 2018
Energy price index declined by -0.78%YOY following a decease in global crude price in Q1-2019. On the contrary, raw food price index accelerated to 2.51%YOY in line with rice, meat and fruit and vegetable prices. Meanwhile, core inflation averaged at 0.62%YOY in the first quarter of 2019, slightly declining from 0.71%YOY during the last quarter of 2018.
Economics
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Regional economic growth in developing Asia will decline sharply in 2020 due to the effects of the novel coronavirus (COVID-19) pandemic, before recovering in 2021, according to the Asian Development Outlook (ADO) 2020, the Asian Development Bank’s (ADB) annual flagship economic publication.
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The virus that triggered a supply shock in China has now caused a global shock. Developing economies in East Asia and the Pacific (EAP), recovering from trade tensions and struggling with COVID-19, now face the prospect of a global financial shock and recession.
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