The Consumer Protection Council Office released data on household expenditure in Thailand for the first six months of 2024. Thai households spent 18,130 baht per month, similar to 2023, but overall expenditure in the transportation and communication categories increased by an average of 11 baht.
Main point
- The inflation rate increased during the 7 months of 2024 (January-July) by 0.11%.
- During the first six months of 2024, Thai households spent an average of 18,130 baht per month.
- The Consumer Protection Council Office expects Thai households to spend slightly more this year compared to 2023.
- The Consumer Protection Council Office expects the inflation rate in 2024 to range between 0.0 – 1.0%, with an average of 0.5%.
Office of Trade Policy and Strategy (Office of Trade Policy and Strategy), Department of Commerce The inflation rate recorded in July rose by 0.83%. Which was positive for 4 consecutive months if combinedThe inflation rate increased during the 7 months of 2024 (January-July) by 0.11%. Inflation is primarily related to oil prices, food prices and services, whether they are going up or down. Because it will affect household expenses. What is household expenses The amount of money that households spend to buy different goods and services to earn their living.
Information from SNOC which analyzes average household expenditures for the first six months of 2024 (January – June 2024) I found it The household expenses are 18,130 baht per month per family. This is similar to the first half of 2023 (January-June 2023), which is equivalent to 18,131 baht per month per household.
When lookingHousehold expenditure by category of goods and services By food and alcohol category In the first half of 2024, the average monthly household expenditure was 7,536 baht. Compared to the first half of 2023, expenditure in this category decreased by 9 baht due to lower prices of meat, poultry and aquatic animals groups, especially pork, mackerel and white shrimp, especially for ready-made. -Eat vegetables and fruits at slightly higher prices.
Clothing & Shoes Category In the first half of 2024, the average cost is 375 baht per month for a household. This is equivalent to the average cost in the first half of 2023. The change in the prices of products in this category is relatively stable. Due to the product and most of them are diverse in terms of manufacturers, distributors and distribution channels. As a result, there is little change in the price level.
Housing category In the first half of 2024, the average cost was 4,003 baht per month per household. Compared to the first half of 2023, expenditures in this category decreased by 14 baht due to lower electricity prices. Government measures to help with living expenses
Medical Examination and Personal Services Category In the first half of 2024, the average cost was 987 baht per month for a household. Compared to the first half of 2023, expenditures in this category increased by 5 baht due to an increase in goods and services in the treatment and medicine groups. The value of personal items is important
Vehicles, Transport and Communications Category In the first half of 2024, the average cost is 4,220 baht per month for a household. Compared to the first half of 2023, expenses in this category increased by 11 baht from the increase in public transport fares. Especially air fares and motorcycle rentals. At the same time, diesel prices fell due to the government's price stabilization measures.
Categories: Entertainment, Reading, Education, etc. In the first half of 2024, the average cost was 766 baht per month for a household. Compared to the first half of 2023, expenditures in this category increased by 4 baht due to a slight increase in tuition fees and educational fees in the public and private sectors. For other products and services in this group, prices are relatively stable.
Tobacco and Alcoholic Beverages Category In the first half of 2024, the average expenditure was 244 baht per month per household. Compared to the first half of 2023, expenditure in this category increased by 3 baht due to the increase in the prices of alcoholic beverages and cigarettes.
A retrospective examination of the monthly expenditures of Thai people shows that they have moved up and down in line with the rate of inflation. But most of them have not gone up very much. Because there are government measures to help with living expenses. The average last year was 18,000 baht.
Boonphong Nayanavakorn, Director of the Public Sector Development Committee Office He said Household expenditures for the full year 2024 are expected to trend slightly higher from 2023. (In 2023, the average annual expenditure is 18,123 baht per person per household. This is a variation according to the inflation rate, which is expected to rise only slightly. The NBTC expects the inflation rate in 2024 to range between 0.0 – 1.0%, with an average value of 0.5%, which is in line with the current economic situation.