Economy Thai Citizens Demand Government Action as Inflation Skyrockets

[webfact]

File photo courtesy of Bloomberg

 

Inflation is hitting Thai wallets hard, raising urgent calls for the government to act. A survey by the National Statistical Office reveals that a whopping 86% of people want immediate intervention to curb rising consumer prices.

 

As the Paetongtarn Shinawatra administration hits the six-month mark, financial strains from household expenses are mounting.

 

Rising costs of living have set alarm bells ringing, with 67% of people in the survey supporting government subsidies on utilities and fuel as a necessary relief mechanism.

 

Meanwhile, other concerns simmer in the background, with 43% calling for more action on drug issues and 35% worried about household debt. The government is urged to face these issues head-on to ease the burden on Thai citizens.

 

Television remains the top source of news for 68% of respondents, while 59% turn to online platforms like Facebook and TikTok. The survey also uncovered interesting views on government policy satisfaction, the popular 30-baht universal health insurance programme is backed by 71% of those surveyed. There's also strong support for other initiatives like economic stimulus handouts and marriage equality legislation.

 

Regionally, satisfaction with government performance varies, with the Northeast leading at 40% approval, while Bangkok lags behind at 14%. In public services, electricity provision comes out on top, delighting 66% of survey participants, followed closely by water supply and road improvements.

 

However, opinions on tourism support remain lukewarm with 30% approving government efforts.

In a related economic twist, the Thai banking sector is gearing up for a potential interest rate cut.

 

The Bank of Thailand's Monetary Policy Committee is expected to lower the key policy rate from 2% to 1.75% by the end of April. This anticipated move is seen as a reaction to sluggish growth due to international pressures like rising US tariffs and a slump in tourism primarily from China and South Korea.

 

The situation underscores the urgent need for the government to stabilise the economy and foster domestic recovery amidst turbulent global conditions. Thai citizens eagerly await decisive actions that will revive their economic prospects and restore confidence in the nation's fiscal future.

 

 

  Adapted by ASEAN Now from The Thaiger 2025-05-07

 

 

[Tom100]

It is guaranteed in any poll anywhere that people will want the government to do more for them...and yet the same people typically want others to pay. Good grief, why bother with such polls?

[loong]

9 hours ago, webfact said:

The Bank of Thailand's Monetary Policy Committee is expected to lower the key policy rate from 2% to 1.75% by the end of April.

 

So, when was this survey taken?

[koolkarl]

This government along with many other governments have been saying for years that there is no inflation.  Interest rates everywhere are way too low for way too long.

[Guderian]

It's interesting that, when inflation is above target and rising, in most countries the central bank will raise interest rates to dampen the economy. One notable exception in recent years has been Turkey, where the strongman in charge firmly believed that high interest rates are a root cause of inflation. That didn't work out well for them so a new central bank governor started to increase rates, and it has had some effect on cooling rising prices. Is Thailand going to go down the Turkish path? Because if so, then the poor citizenry ain't seen nothing yet when it comes to inflation.

 

 

 

 

[hotchilli]

10 hours ago, webfact said:

As the Paetongtarn Shinawatra administration hits the six-month mark, financial strains from household expenses are mounting.

I doubt the billionairess will notice

[proton]

Thai people say where is our 10k bribe money 😁

[FlorC]

THB up again though.

[Olav Seglem]

Actually more interesting that somebody say NO  😉

 

[metisdead]

A post with nothing other than a trolling image has been removed.

[Srikcir]

1 hour ago, proton said:

Thai people say where is our 10k bribe money 😁

Good reason to plead as the inflation rate in Thailand decreased to 1.08% in February 2025, falling 0.22% year-on-year in April 2025 with Thailand GDP projected to grow  by up to 2% in 2025. Economic indicators that Western countries, especially the USA would envy.

[Purdey]

So, bang goes everyone's savings?

No idea why banks ask us to trust them when they lend to people who don't repay them. 

[thesetat]

3 hours ago, Tom100 said:

It is guaranteed in any poll anywhere that people will want the government to do more for them...and yet the same people typically want others to pay. Good grief, why bother with such polls?

I would love to see a chart of the Thaksins family income and profit from business... I would bet it shows something similar to this.

[jas007]

This problem is hardly unique to Thailand. Consumers don't like higher prices and they want the government to "do something."  But the government is in a bind. They could raise interest rates and slow the economy and perhaps dampen inflation that way, or, they could lower rates to stimulate an already faltering economy while in the process creating even more inflation.  The usual choice is to protect "the economy" with the hope that people will adapt to the higher prices that result from lower rates. 

 

Just this morning or yesterday, China lowered its rates to protect the "economy."  Guess who pays?  In the USA, Trump wants the Fed to lower rates to help "the economy.."  Again, guess who pays.  

[factual monk]

Don't worry my people... I'm opening up casinos... you can always look from outside and be happy.... 

[Will B Good]

Thai Citizens Demand Government Action as Inflation Skyrockets

 

??????

[jas007]

3 minutes ago, Will B Good said:

Thai Citizens Demand Government Action as Inflation Skyrockets

 

??????

How do they measure inflation in Thailand, and how accurate is that measure in reflecting real consumer prices for essentials like food and energy? 

[Sir Dude]

Well, not hard to figure out what is going on. Wages are simply not keeping pace with the increased cost of living/inflation plus interest rates are high, governments around the world are taxing more, especially imports as they are worried about the Chinese dumping policy MO that is the only way for them to keep their economy afloat, which destroys local competition and companies due to the huge subsidies that Chinese firms get from the CCP (because the CCP only cares that their people have jobs and don't rebel)... which in turn makes products made elsewhere more expensive. Can also couple that with general corporate greed, war, dwindling job opportunities everywhere (even in the West)... look at the UK, businesses are more reluctant to hire due to excessive NI and general taxes. The simple truth is that governments are running out of money everywhere so they want to squeeze the Joe public and the businesses for as much as possible... even places like Thailand are skint too due to frivolous spending nonsense. Pages worth of this stuff on a topic like this one.

[Will B Good]

 

 

2 minutes ago, jas007 said:

How do they measure inflation in Thailand, and how accurate is that measure in reflecting real consumer prices for essentials like food and energy? 

 

 

Doesn't look radically different to, say, the UK.....

 

 

Consumer Price Index (CPI):

The CPI tracks the average change in prices over time of a fixed basket of goods and services that Thai households typically purchase.

The basket includes categories like:

Food and beverages

Housing and utilities

Transportation

Medical care

Education

Recreation

Communication

 

Weighting System:

Each category is given a weight based on household spending patterns, updated periodically through household expenditure surveys.

For example, food may have a larger weight than recreation because it’s a bigger part of the average household budget.

 

Types of CPI in Thailand:

Headline CPI: Includes all items in the basket, including volatile prices like food and fuel.

Core CPI: Excludes volatile items (like fresh food and energy) to reflect underlying inflation trends.

 

Data Collection:

Prices are collected monthly from thousands of outlets across the country, including shops, markets, and service providers.

 

Inflation Rate Calculation:

Inflation is typically reported as the year-on-year (YoY) change in the CPI (e.g., comparing prices in April 2025 with April 2024).

Monthly and quarterly changes are also tracked.

 

[jas007]

3 minutes ago, Will B Good said:

 

Can anyone (free of brain damage) explain why that post would get a thumbs down within seconds of being posted?

Some people can't string two sentences together, but they think they understand things they don't understand and they have an agenda. That's their way of "contributing." 

[wimpy]

 

 

[SABloke]

Where to cut spending? Thai budget for the special ones = 1 Billion USD. Compare that to the UK special ones = 100 Million USD. Bizarre when comparing the total budgets of each country. As an article last year put it (paraphrased) "The cool billion usd is JUST 1% if the total budget" 

[Rob Browder]

6 hours ago, Tom100 said:

It is guaranteed in any poll anywhere that people will want the government to do more for them...and yet the same people typically want others to pay. Good grief, why bother with such polls?

That massive rise - about 1/3 of total debt (the graph does not go to zero on the y-axis) was not due to people begging for handouts. 

Rather, it was due to the govt buying into a lying narrative, spread world-wide, about a virus which was only ever dangerous to the very old and very sick. They literally forced people to stop working for literally no good reason. 

 

The elderly/sick could have quarantined, with a fraction of the damage to the economy and govt-debt - and only even that, until the effective treatments for the old/sick were determined, which was about 6 months after the "event" began.

 

Of course, anyone "noticing" the treatments since-proven to actually save lives were banned from speaking about them, at the time - because they were "off patent," and would have interrupted the great "global experiment" in mass-psychological-manipulation of masses - then, in-progress.  From my observations, we now know exactly how Pol Pot was able to do what he did.

[steven100]

Well what do you expect when companies like CP group have a monopoly on supermarkets.  They can charge what they damn well please and who regulates it   ??     nobody .. that's who    !!   

 

Thailand ...  you let CP run rampant ....    so you deserve it   !!!      period   ...

[CallumWK]

One only has to look at the supermarkets to know how things are in Thailand.

 

I visit Big C Extra in Pattaya almost daily, always around the same time. Lately there is a lot of free spaces in the car parking lot, and we aren't halfway the month yet.

I also notice that in the last week or 10 day more than half of the long time staff has disappeared, especially in the fresh food departments

[atpeace]

1 hour ago, Will B Good said:

Thai Citizens Demand Government Action as Inflation Skyrockets

 

??????

those numbers reflect what I have experienced. Basically no inflation except a brief period in 2022.  Just a hunch but I think many Thais are sinking in debt and have little disposable income and hence the tame inflation numbers.  Everybody seems happy in my area but the level of manic spending on homes and cars has cooled.  

[thesetat]

1 hour ago, atpeace said:

those numbers reflect what I have experienced. Basically no inflation except a brief period in 2022.  Just a hunch but I think many Thais are sinking in debt and have little disposable income and hence the tame inflation numbers.  Everybody seems happy in my area but the level of manic spending on homes and cars has cooled.  

In Thailand, the average household debt has reached a record high of 606,378 baht, up 8.4% from the previous year. This increase is primarily driven by rising living costs and slower economic growth. The average monthly debt payment is 18,787 baht, with a delinquency rate of 71.6%. So they are happy until payments are unable to be made and then they just default. 

[hydraides]

Tbh i've think prices have stayed roughly the same or even come down a bit since Russian Invasion on most items

 

I remember when salmon went up to like 800 baht to kilo, now its down back to 600 baht a kilo?

 

Chicken breast is still 70-80 baht a kilo i'm sure

 

Eggs seen to have come down a bit in price last time I look

 

Most food items have remained about the same price or a little bit up?

 

Rent prices for condos in Phuket have come down a bit since their crazy highs after the russian invasion....

 

BUT......Looks like prices could sky rocket again though with India/pakistan about to kick off and Israel vs Iran when Israel invades Gaza.....That's going to destroy the world economy.....on purpose though......

 

If oil/gasoline goes to $150 due to Iran closing Strait of homuz etc+ everything will basically double in price.....

 

 

[JimHuaHin]

Maybe if the Thai citizens changed the government, then things might improve.

 

But they tried that a few years ago, and the "system" killed the people's choice.

 

 

[steven100]

  the rich get richer by the day ...