High prices resulting from Mideast conflict a major worry for consumers
A visitor looks at a stall at the Crafts Bangkok 2026 fair, held at Queen Sirikit National Convention Center earlier this month. (Photo: Varuth Hirunyatheb)
The Consumer Confidence Index (CCI) fell to 49.5 in May, the lowest level since December 2022, the University of the Thai Chamber of Commerce (UTCC) said on Thursday.The drop was mainly attributed to concerns over the Middle East war and persistently high oil prices, which are expected to weigh on Thailand’s economic growth and raise the cost of living, the university’s Centre for Economic and Business Forecasting said.
Indices measuring confidence in the overall economy, employment opportunities and future income stood at 43.1, 47.5 and 57.9, respectively in May, down from 44.1, 48.6 and 59.0 in April.
As all three indicators remained below the standard benchmark level of 100, they highlighted a persistent lack of confidence among consumers in the economic outlook, employment prospects and future earnings, said the centre.
