Economics
Thailand’s inflation hitted 4.1% to a 16-month high in January
Inflation may accelerate to as much as 5 percent this year on rising oil prices and as the $261 billion economy recovers from its recession, the central bank predicts. The expiration of the government’s subsidy program for low-income earners will also lead to higher prices.

Annual inflation hit a 16-month high of 4.1% in January on rising food, farm and fuel prices. But the sharp rise was in part due to last year’s low base, when prices fell due to the global recession.
The country’s annual consumer price index, which tracks 417 products and services, rose for the fourth consecutive month after climbing by 3.5% year-on-year rise in December.
Monthly inflation returned to positive numbers of 0.6% in January, after dipping to -0.1% in December from 0.3% in November.
“The further increase in consumer prices reflects clearer signs of the country’s economic recovery and a rebound in consumer spending, due to export recovery which leads an increase in industrial manufacturing, employment and rising farm prices on the back of high global demand,” said Yanyong Phuangrach, permanent secretary for commerce.
Food and beverage prices rose by 3.2% year-on-year, largely due to increases in the cost of rice, flour and cereal products, meats, vegetables and fruits.
Inflation may accelerate to as much as 5 percent this year on rising oil prices and as the $261 billion economy recovers from its recession, the central bank predicts. The expiration of the government’s subsidy program for low-income earners will also lead to higher prices.
Economics
Thai economy to grow 4% in 2021 following 6.5% decline in 2020
The World Bank is now expecting the Thai economy to see 4% growth this year, and a 4.7% growth in 2022, despite current challenges from the new wave of COVID-19 infections.

The World Bank now expects that the Thai economy to expand by 4 per cent in 2021, according to the latest World Bank Thailand Economic Monitor report “Restoring Incomes, Recovering Jobs” released on Wednesday (Jan 20).
(more…)Banking
BoT sees mild impact of new COVID-19 wave on the economy
The Bank of Thailand (BoT) does not see the new wave of COVID-19 infections as having as much of an impact on the economy as the first wave, as fewer businesses have had to be suspended.

BANGKOK (NNT) – Despite a new and wider wave of COVID-19 infections in the country, the Bank of Thailand (BoT) has assessed that the economic impact of the situation will not be as severe as the first wave as the effects of the virus are not as pronounced, and public health preparations, including plans for vaccination, are in place.
(more…)Economics
COVID-19 brings first consumer confidence drop in 3 months
Consumer confidence in December 2020 was measured at 50.1 points, down from 52.4 the previous month. Economic confidence was also down to 43.5 from 45.6 points.
- Economics6 days ago
Thai economy to grow 4% in 2021 following 6.5% decline in 2020
- National6 days ago
Human trafficking cases in Thailand hit decade low due to COVID-19
- Banking1 week ago
Can Fintech drive a strong post-COVID-19 recovery in Asia?
- Health1 day ago
Thailand approves COVID-19 AstraZeneca vaccine for emergency use