Rising consumer goods prices, especially food ingredients, oil and cooking gas prices, point to an upward trajectory for the total cost of living, and this situation is likely to continue unless the economy fully recovers from the effects of the pandemic.
The highly contagious Omicron strain has put a brake on the economy, impacting business recovery and household purchasing power.
Although the government has slowly announced measures to lower the cost of living of citizens, such as fixing the prices of various products such as cooking gas, chicken, pork, etc., consumers as well as expatriates are still concerned and become affected by the rising cost of living, especially food costs.
The measure to set the price of gas for home cooking at 318 baht per 15 kg tank will end on March 31, with the first incremental adjustment to 333 baht/tank, before moving to the next level of 363 baht/tank.
The food sellers say they are being hit hard by rising raw material costs, but they are still selling food at the same price to help consumers while leaving less. However, they will reconsider pricing if there are any unforeseen events. They are urging the government to resolve this issue quickly.
The January consumer confidence survey saw its first decline in five months, partly due to the impact of high oil prices, commodities and higher prices that have pushed inflation up. There is a chance that inflation will reach as much as 3 per cent in the first half of the year.
The consumer confidence index is likely to fall further in February, driven by expensive and higher oil prices, concerns about the slow recovery of the economy and the spread of the Omicron strain.
Catch up on more stories here
Follow us on Facebook here