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.
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.
The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.(more…)
World Bank cuts Thailand’s GDP growth outlook to 1% in 2021
The World Bank has said that Thailand’s economy is forecast to grow 1% this year, down from the 2.2% projected in July, hit by a spike in COVID-19 cases and a delayed reopening to visitors.
Thailand welcomes first Finnair flight from Stockholm to Phuket
Bangkok, 25 October, 2021 – The Tourism Authority of Thailand (TAT) today welcomed the start of Finnair’s latest direct non-stop...
More COVID-19 restrictions are relaxed in Thailand from 16 October 2021
Bangkok, 16 October, 2021 – The Tourism Authority of Thailand (TAT) would like to provide an update that more COVID-19...
China’s economy stumbles on power crunch
BEIJING (Reuters) – China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks...
Quarantine-Free Thailand Reopens for Vaccinated Tourists From 1 November 2021
The Tourism Authority of Thailand (TAT) would like to confirm that Thailand is all set to welcome fully vaccinated foreign...
The ASEAN-India Trade in Goods Agreement
The ASEAN-India Trade in Goods Agreement (the “Agreement”) is a trade deal between the ten member states of ASEAN and...