Average household expenditure still high at 18,000 baht plus: TPSO
Average Thai household expenditure in July stood at 18,130 baht per month, dropping only 2 baht from the previous month but still considered high, the Trade Policy and Strategy Office (TPSO) said this week.
The office noted that household expenditure hardly changed in line with the country’s inflation in July, which rose 0.38% from the previous month. Inflation in the first seven months of this year was recorded at 2.19%
TPSO said the monthly outgoings of the average Thai were still high at more than 18,000 baht.
The TPSO divided household expenditure into seven categories: Foods and non-alcoholic drinks, clothes and shoes, residence-related, medical and personal services, transport and communication, education and entertainment, and tobacco and alcoholic drinks.
In July, the biggest expenses for Thais were in the transport and communication category (public transport, fuel, and mobile phone fees) at 4,208 baht. Residential-related expenses (rent, power bills, cooking gas and household items) came in second at 4,037 baht.
Thais spent around 1,678 baht per month on meat, 1,027 baht on fruits and vegetables, 1,641 baht on home food deliveries, and 1,254 baht on dining out.
On average, food and non-alcoholic drinks are responsible for 41.47% of Thais’ spending each month, the office said.
TPSO added that prices of products and services that fell in July include fuel, clothes, pork, and electrical appliances. Among those that went up are fruits and vegetables, eggs, non-alcoholic drinks, and dairy products.
The office estimated that inflation for the rest of the year will expand by less than 1% every month, with the total year’s inflation coming in at between 1-2%.
This estimation is based on the hypothesis that Thailand’s gross domestic product expands 2.7-3.7% year on year and average currency exchange rate is 33.5-35.5 baht per US dollar, while the price of Dubai crude oil is in the range of 71-81 US$ per barrel.
