Testing the stagflation waters
Thailand’s economy has been mired in a contraction for five consecutive quarters, starting with a 1.8% dip in the first quarter of 2020 followed by an alarming 12.2% nosedive in the second quarter.
The contraction was less severe at only 6.4% in the third quarter, shrinking to 4.2% in the final quarter and only 2.6% in this year’s first quarter.
The headline inflation rate gauged by the consumer price index (CPI) also rose by 3.41% year-on-year in April to reach the highest level in eight years and four months.
Bangkok Post Reporter
