inflation
- Business News
Baht falls to three-month low as US inflation delays rate cut
The Thai currency hit a three-month low against the US dollar yesterday, February 14, slipping below 36 to the dollar. This was attributed to higher-than-anticipated US inflation, which led the market to predict a delay in the Federal Reserve’s first interest rate cut, initially expected in May. Quoting Kasikorn Research Centre, the baht was valued at a low of 36.13 against…
- Press Room
ROSHI unveils groundbreaking insights into personal lending trends
Singapore-based Fintech ROSHI has released a detailed analysis that talks about what types of individuals use personal lending services to tackle financial pressures over 2023’s high inflation economy. This meticulous study utilised first-party application data to delve into the profile characteristics and utilisation patterns of numerous Singaporeans who sought personal loans from ROSHI to mitigate income disparities during the past…
- Business News
Thai PM and central bank clash over interest rates amid low inflation
The clash between Prime Minister Srettha Thavisin, who also holds the Finance Minister portfolio, and the Bank of Thailand (BoT) intensified. The prime minister has been vocal about his belief that the central bank should lower its interest rates as inflation rates have decreased. On a social media platform, PM Srettha blamed the BoT for causing harm to the economy…
- Business News
Thailand’s inflation hits 33-month low sparking economic slowdown concerns
Inflation in Thailand experienced a downward trend for the second month in a row, marking a 33-month low in November. This decrease sparked concerns regarding the increased risk of economic deceleration and potential deflation. The Commerce Ministry of Thailand has also predicted a further decline in the inflation rate in December. Deflation is defined as a period where the prices…
- Business News
Thailand’s central bank forecasts export revival and low inflation
The Bank of Thailand (BoT) anticipates an export revival in the coming year, as revealed in a recent statement. The Bank also projects low inflation rates for the same period, attributing it to government subsidies, albeit with a gradual increase within an acceptable range. Meeting minutes from the BoT’s November 29 monetary policy gathering, released on Wednesday, indicated that while…
- Business News
Thailand’s inflation drop fuels economic slowdown fears
Concerns are heightening among analysts over Thailand’s first year-on-year inflation decline in 25 months. The drop in the Consumer Price Index (CPI) is viewed as an indication of increasing risks of economic deceleration and deflation. BofA Securities, previously known as Bank of America Merrill Lynch, highlighted that the inflation figure for October signified the first year-on-year decline since August 2021.…
- Economy News
Inflation rate in Thailand dips for first time in over two years
The Commerce Ministry of Thailand announced today that the country’s inflation rate has dipped for the first time in 25 months, primarily due to a drop in energy and food prices. This development is attributed to the government’s support measures. The consumer price index (CPI) noted a 0.31% reduction in October, compared to the same period last year. This contrasted…
- Business News
Bank of Thailand maintains 4.4% GDP growth forecast amid stimulus measures
A 4.4% GDP growth forecast for the coming year has been maintained by the Bank of Thailand, factoring in the government’s proposed economic stimulus measures. Assistant Governor Piti Disyatat confirmed this projection following the Monetary Policy Committee’s vote on September 27 to hike the benchmark interest rate by a quarter-point, making it a decade-high 2.5%. The committee, however, reduced its…
- Business News
Inflation squeeze: Investors seek assets that outinflate rising costs
The recent surge in inflation has had a profound impact on the investment landscape, leading to an increase in product prices and living costs. These conditions require investors to strategically select assets that can generate returns that beat inflation. One such investor, Phongthorn Thavontanakul, founder and CEO of Lief Capital Asset Management, shared his insights on investments that can weather…
- Business News
Commerce Ministry revises inflation forecast, amid falling prices
Revising its earlier forecast, the Commerce Ministry now anticipates headline inflation to be within 1-1.7% for the current year, with an average of 1.35%. This comes as a result of expected lowered inflation in the last quarter. In July, the forecasted range was 1-2% with an average of 1.5%. Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office, revealed…
- Business News
Global investors navigate high interest rates amid inflation control efforts
Amid recession concerns, inflation, and high interest rates, investors seek promising investment avenues. Stock enthusiasts believe global interest rates are close to peaking, while central banks watch inflation. The US Federal Reserve raised the federal funds rate to 5.25-5.50% in July, the highest in decades. The European Central Bank increased rates by 0.25%, and the Bank of Japan hints at a…
- World News
US Federal Reserve poised to raise interest rates for inflation control
The chairman of the US Federal Reserve, Jerome Powell, announced last Friday that they are prepared to increase interest rates further if needed. The central bank aims to maintain high rates until inflation approaches its 2% target. Powell highlighted that despite the recent decline of inflation from its peak, it remains excessively high. In his address to the annual symposium of…
- World News
Lettuce talk about it: Burger King says ‘no more’ to tomatoes as veggie prices squash profits in India
Reverberations from a skyrocketing surge in vegetable prices throughout India are being felt by consumers and the food industry alike, resulting in the popular fast-food business Burger King withdrawing tomatoes from several branches across the nation. Burger King explained to customers that even tomatoes need a vacation. Reuters reported yesterday that two of Burger King’s Indian branches announced… “Even tomatoes…
- Business News
Travel industry girds for weak low season amid cost and weather challenges
The travel industry is bracing itself for an exceptionally weak low season, with predictions of stagnant demand, escalating operational costs at popular destinations, and the impacts of tropical storms. The president of the Thai Travel Agents Association, Charoen Wangananont highlighted that the season’s sale rate for outbound packages significantly lags behind the comparison period recorded before the pandemic. He cited hesitancy…
- Economy News
Rice price hikes worry restaurant owners, some pass costs to diners
Rice prices have begun to climb, causing restaurateurs concern about the cost of producing made-to-order meals. Despite this, some restaurants have opted not to increase prices, sympathising with their customers. They are instead appealing to the government to control the cost. The Ministry of Commerce directed related agencies to balance rice prices after a lull in rainfall from El Niño…
- Business News
Flavorful finances: Thailand’s July inflation stays mild
The Ministry of Commerce in Thailand revealed that July’s headline inflation saw less acceleration than anticipated, credited largely to a dip in food and energy costs. Meanwhile, forecasts by the agency anticipate the inflation rate’s upturn by less than 1% per month until the year concludes. July’s year-on-year headline inflation amounted to a 0.38% rise, measured via the consumer price…
- Phuket News
Blue Flag market unveiled by Phuket to combat rising costs
Phuket is preparing to host a monthly special market dubbed the “Blue Flag.” The market is hoped to bring an economic lifeline to the less affluent residents of the city as they struggle with the inflating prices of common household essentials. The Phuket Provincial Commerce Office has taken the initiative of kick-starting the Blue Flag market beginning from the first week…
- Business News
Bank of Thailand forecasts final interest rate hike amid inflation uncertainty
The Bank of Thailand (BoT) aims to cap its series of interest rate increases with a final 25-basis-point hike slated for August 2, due to an ongoing high and uncertain inflation outlook. This insight has been gathered from a poll conducted recently. After June’s annual headline inflation eased down to 0.23%, falling below the BoT’s target range of 1%-3%, it…
- Economy News
Economic predicament: Ipsos Study reveals Thai citizens’ fears of surging inflation
A feeling of despondency is evident among the population of Thailand as an Ipsos study revealed concerns over increasing inflation and interest rates. The research, which comprised of responses gathered from a substantial 6,000 persons, displays a disconcerting economic predicament, with more than half of the respondents predicting an inflation upswing within the next 12 months. The study was headed by…
- Business News
Thai interest rates raised to 2% by BoT amid core inflation worries
The Monetary Policy Committee of the Bank of Thailand (BoT) anticipates ongoing economic growth with some potential risks, as evidenced by their decision to increase the key Thai interest rates for the sixth consecutive meeting, according to the minutes released recently. On May 31, the committee unanimously agreed to increase the one-day repurchase rate by a quarter point to 2%,…
- Economy News
Eggs-traordinary crisis: Thailand’s soaring egg prices crack traders and consumers alike
The soaring cost of eggs in Thailand has left traders and consumers concerned, with some attributing the price hike to a shortage of supplies at farms and increased export demand. Wanchai Rungmitcharatsaeng, a 65 year old egg shop owner in Khon Kaen’s Mueang district, has been in the business for over 20 years and claims that egg prices have reached…
- Economy News
Thai GDP growth at risk as new government formation faces delays
Concerns are rising within the private sector as the potential delay in the formation of Thailand’s new government could lead to a decline in the country’s GDP growth to 1-2%. Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, stated that the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is closely monitoring the political situation. A new government…
- Business News
OECD raises global growth outlook as inflation eases, warns of long road
The Organisation for Economic Co-operation and Development (OECD) has marginally increased its global economic growth forecast to 2.7%, up from 2.6% in its previous report. This revision is attributed to easing inflation, China lifting Covid restrictions, falling energy prices, and supply chain improvements. However, the recovery remains below the 3.3% growth recorded in 2022, and the organisation warns of a…
- Economy News
Inflation plummets to 21-month low in Thailand as fuel and electricity prices drop
Inflation in Thailand reached its lowest point in 21 months last month, primarily driven by declining fuel prices and electricity bills, along with a higher price base in May of the previous year. Experts predict that the inflation rate will further decrease throughout June. Wichanun Niwatjinda, deputy director-general of the Trade Policy and Strategy Office, expects inflation for June to…
- World News
Japan sees fastest wage growth in 30 years but weak household spending persists
In April, Japan experienced a rise in wages as major companies increased pay at the fastest rate in 30 years, responding to workers’ demands for higher salaries to cope with inflation. However, household spending remained weak, highlighting an uneven economic recovery. The wage data offers an early insight into the effects of the spring labour negotiations, known as “shunto,” and…
- Business News
Bank of Thailand likely to hike rates amid inflation concerns
Inflation concerns prompt predictions of further Bank of Thailand rate hikes this year, as the nation’s economy recovers. Siam Commercial Bank’s research unit, SCB Economic Intelligence Center (EIC), anticipates the central bank’s Monetary Policy Committee (MPC) will increase its policy benchmark rate by a quarter percentage point in both August and September, bringing it to 2.5% from the current 2%.…
- Business News
Bank of Thailand raises key interest rate amid inflation risks
The Bank of Thailand announced a 25 basis point increase in its key interest rate, bringing it to 2%. This marks the sixth consecutive meeting where the central bank has raised the rate, with a total increase of 150 basis points since August last year. The decision was unanimous among the Monetary Policy Committee members and in line with the expectations…
- Business News
Bank of Japan to maintain ultra-loose policy, downplays change expectations
The Bank of Japan’s Governor, Kazuo Ueda, has stated that the central bank will continue to maintain its ultra-loose monetary policy, as there remains a significant gap to achieve the 2% inflation target sustainably. Ueda’s comments downplay the expectations of a policy change in the near future. He told parliament, “We expect inflation to quite clearly slow below 2% toward…
- Business News
Diesel prices dip amid global economic recession fears and interest rate hikes
On Monday, Diesel prices have fallen to around 32 baht per litre, as global crude oil prices continue to decline amidst concerns about an economic recession. The Oil Fuel Fund Office (Offo) has attributed this decrease to economic contraction, resulting from central banks’ interest rate hikes. As central banks, including the Federal Reserve and the European Central Bank (ECB), continue…
- World News
Argentina hikes interest rate to 97% amid soaring inflation and election
Argentina’s central bank has raised its base interest rate by six points to 97% to combat soaring inflation, which reached nearly 109% year-on-year in April. This marks the second increase in less than a month, as the government plans to announce a series of measures to address the economic crisis ahead of the General Election in October. The central bank…
- World News
South Korea to raise electricity and city gas prices amid high inflation and cost of living
South Korea announced today that it will increase electricity prices by 5.3% in an effort to partly account for rising generation costs. This decision, initially slated for implementation on April 1, was postponed by over a month due to concerns about the potential impact on already high inflation rates and the cost of living. This will be the second electricity…
- Business News
Thai food exports forecast to grow despite challenges
Despite economic uncertainties, inflationary pressures, foreign exchange fluctuations, and rising production costs, Thai food exports are predicted to grow by 2.1% to 1.5 trillion baht this year. The main factors supporting this outlook include the government’s policies to stimulate economic growth, the country’s reopening after the pandemic, global supply chain shortages, increased concerns about food safety, and the high-quality standards…
- Business News
Philippine annual inflation on track for government target as food prices ease
Philippine yearly inflation is predicted to remain within the government’s 2% to 4% target range in Q4, following a decrease in April due to reduced food prices. The consumer price index increased by 6.6% YoY in April, the lowest rate since August, and lower than the 7.0% predicted in a Reuters poll. As a result, the Bangko Sentral ng Pilipinas…
- Business News
US Federal Reserve considers final interest rate hike to tackle inflation
The US Federal Reserve has commenced a two-day meeting to determine if it will raise its benchmark lending rate for possibly the last time in this campaign, in an effort to tackle persistent inflation. Since March of last year, the Fed has embarked on a bold series of interest-rate hikes to address inflation, which currently stands at 5%, significantly higher…
- Business News
Pakistan inflation reaches record high due to soaring food prices
Inflation in Pakistan escalated to a record 36.4% in the year to April, primarily driven by food prices, making it the highest rate in South Asia and marking an increase from March’s 35.4%, according to the country’s statistics bureau. In rural areas, food inflation reached 40.2%, while for both rural and urban regions, it climbed to 48.1% – the highest…
- World News
Bank of Japan reviews monetary easing measures under new governor
The Bank of Japan (BOJ) has announced plans to review its longstanding monetary easing measures, while also stating that it will maintain them for now. This marks the first policy decision under the new governor, Kazuo Ueda. Analysts suggest that the central bank’s stimulus measures, in place for a decade, are becoming increasingly unsustainable. The BOJ issued a statement after…
- Technology News
Spending on IT in Thailand to grow 4%
Spending on IT in Thailand is expected to grow by more than 4% in 2023, slightly slower than last year and weighed down by a projected contraction in spending on new phones. Growth this year is projected to be almost twice the global rate of 2.4%. John-David Lovelock of the research firm Gartner said… “Inflation, skills shortages and supply chain…