Poll: 92% don’t earn more than their expenses, oil price main factor

A new poll revealed that over 90% of people are not earning more money than their expenses, and that, of all the expenses people are grappling with in the current economy, oil prices are the main factor they say has the greatest effect on their daily lives. The new poll, conducted by the National Institute of Development Administration, saw the skyrocketing prices at petrol stations to be on the majority of people’s minds.

Despite a recent dip in the prices at the pump in the last few days, people in the current economic climate in Thailand are concerned with oil prices, even more than other staples like food, electricity, and rent.

The poll also revealed that the majority of people were earning less money than their monthly expenses, with almost 93% of people polled saying they earned less than their expenses or are breaking even at best.

The NIDA poll spoke with 1,312 respondents via phone call, over the last few days, from July 6 to 8. Those polled were from all over the country, and of various backgrounds, occupations, education levels, and income brackets. Two main questions were posed to the poll respondents, with the breakdown of answers below.

What expense has affected you the most in the current economic situation?

• 32.73% – oil prices
• 25.79% – daily food
• 13.47% – electricity
• 6.10% – cooking gas
• 3.36% – car instalments
• 3.18% – water
• 2.79% – house instalments
• 2.32% – equipment or materials for their occupations and textbooks for children
• 1.79% – house rentals
• 1.56% – none
• 1.50% – public transport

An additional 3.05% of those taking part in the NIDA Poll mentioned miscellaneous expenses not covered in the above options. Some of the expenses they mentioned include:

• Informal debt repayments
• Medicine and medical supplies
• Mobile phone charges
• Internet charges
• Clothes
• Cable TV

Finally, 0.04% of those polled said they had no answer for the question or were not interested in answering it.

How do your monthly expenses compare to your monthly income?

• 60.06% said that they had less income than expenses and are struggling.
• 32.62% said that they had about the same income and expenses and were breaking even.
• 7.32% said that they had more income than expenses and are doing fine.

SOURCE: Bangkok Post