Thailand’s 2022 inflation may hit highest level in 10 years
Thailand’s headline inflation is expected to hit its highest level in a decade next year driven by cost-push factors including rising imported raw materials, a recovery in domestic demand, relatively high oil prices and a labour shortage, according to the country’s Trade Policy and Strategy Office (TPSO).
Shoppers at Future Park Rangsit in Pathum Thani province (Photo: bangkokpost.com)
Bangkok (VNA) - Thailand’s headline inflation is expected to hitits highest level in a decade next year driven by cost-push factors includingrising imported raw materials, a recovery in domestic demand, relatively high oilprices and a labour shortage, according to the country’s Trade Policy andStrategy Office (TPSO).
Ronnarong Phoolpipat, TPSO director-general, said that Thailand'sheadline inflation is likely to top 3 percent next year from a range of 0.8percent to 1.2 percent this year.
The projection assumes the Omicron outbreak is not seriousand the country's reopening brings about recovering economic activities andtourism as hoped, along with higher domestic demand and spending.
Other factors include scarcity of labour and the impact ofexternal factors such as higher imported raw materials like steel andfertiliser, as well as continued high oil prices, said Ronnarong.
He suggested the government reintroduce subsidy schemes forwater and electricity bills as well as other assistance measures to help reducepeople's living costs./.
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Shoppers at Future Park Rangsit in Pathum Thani province (Photo: bangkokpost.com) 
