Bangkok, The Research Center estimates that if the minimum wage is raised to 400 baht nationwide in October 2024, it is expected to increase pressure on Thailand's general inflation at around 0.1% this year after the April inflation rate. 2024 turns positive and the positive trend will continue for the rest of this year. As a result, there will be less opportunity for policy interest rate reductions. Kasikorn Research Center stated Thailand's general inflation in April 2024 turned positive for the first time in 7 months at 0.19% YoY and increased at 0.85% MoM, mainly due to the increase in energy prices from world crude oil prices and agricultural product prices. Meanwhile, inflationary pressure from domestic demand remains limited. positive inflation and is likely to return to the Monetary Policy Committee or MPC's target of 1-3% in the remaining quarters of this year, and the MPC is likely to give weight to risks to financial stability. and more fluctuations in the value of the baht Amid pressure from ti ght monetary policy around the world for longer than expected, the MPC is likely to maintain the policy interest rate at 2.50% throughout this year. Kasikorn Research Center still views that general inflation in Thailand will likely continue to be positive after this. It still estimates general inflation in 2024 at 0.8% following the price of crude oil in the world market which tends to remain stable at a high level. As a result, the government sector may gradually reduce subsidies for domestic energy prices. And the prices of fresh vegetables and fresh fruits are likely to remain high due to the drought situation due to the extremely hot weather and the lack of rain. If the minimum wage is raised to 400 baht nationwide in October 2024 As the government has proposed, it is expected that this will increase pressure on Thailand's general inflation at around 0.1% this year. Source: Thai News Agency
Related Articles
OIC recommends purchasing insurance to reduce risks from natural disasters.
Bangkok, The OIC is concerned about people and farmers. Recommend purchasing insurance to reduce risk from natural disasters. Summer storms occurred in many areas. Emphasize private buildings Must have insurance according to law, punishable by severe…
Commerce welcomes independent organization for purchasing Chinese fruit products
Nonthaburi, Director-General of the Department of Foreign Trade welcomed the Independent Organization for Procurement of Fruit Products of the People’s Republic of China. Ready to help coordinate the procurement of Thai durian according to the needs …
Student Loan Fund notifies 60,000 borrowers who were prosecuted in 2014 to come and negotiate to extend repayment time.
Bangkok, The Student Loan Fund informs that 60,000 borrowers were prosecuted in 2014 and have outstanding debts. Please come negotiate to extend the installment period for another 15 years to relieve the guarantor of the burden. Emphasizes that the c…