Thailand’s Consumer Confidence Index hits lowest in eight months

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PHOTO: workpointtoday

 

The Consumer Confidence Index in Thailand has dropped to the lowest level in the past eight months due to the higher cost of living and fuel prices, the University of the Thai Chamber of Commerce’s economic forecasting center reported today, May 10th.

 

University President Thanawat Phonwichai revealed the results of the Consumer Confidence Survey in April 2022 which stated that the Consumer Confidence Index (CCI) has declined for the fourth consecutive month and hit at the lowest level in eight months since September 2021.

 

According to the survey, consumers are mainly concerned about the spread of Covid-19 Omicron variants, the rising cost of living, as well as serious concerns about the war situation between Russia and Ukraine which may result in the global rise of oil price and the increasing cost of production.

 

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The continued rise in oil prices and the problem of expensive product prices in Thailand have become major concerns that affect the decline of the consumer confidence in the present and in the near future. Therefore, the CCI in April has continued to drop to 40.7 from 42.0 in March.

 

Additionally, the overall Economic Confidence Index, the Confidence Index on Overall Job Opportunity, and the Customer Confidence Index on Future Income are at 34.6, 38.0, and 49.6, respectively, significantly decreasing from the reports in March which were at 35.9, 38.9 and 51.1, respectively.

 

Full Story: https://thepattayanews.com/2022/05/10/thailands-consumer-confidence-index-hits-lowest-in-eight-months-due-to-rising-cost-of-living-and-fuel-prices/

 

-- © Copyright The Pattaya News 2022-05-10

 

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[ThailandRyan]

Unfortunately as the prices start to rise due to inflation the consumer confidence will shrink more.  Today we went to Icon Siam, and immediately noticed that the food prices in the bottom Sook Siam food area have increased considerably.  I also noticed that prices in the high end shops have risen, as my GF went back to look at a pair of shoes in Dior, and the price has risen 6k baht in 1 month.  Now how much of this is being driven by greed and then Tourists returning, did notice quite a few shopping in the mall, and not just westerners, is the bigger question.

[RanongCat]

Can believe ! now many have used so much of any savings from before thinking all go back  normal and can replace . Or been living on family farm bt now family farm need cash for new  season. Chanote already at Bank for children to take new  credit so can stop repossess useless status symbol vehicle .

Not long will see very sad thing of promise credit social is best way.