Permanent Secretary for Commerce Yanyong Phuangrach has indicated a higher consumer confidence index (CCI) in January although Thai people remain worried about the rising cost of living and corruption.
According to Mr. Yanyong, consumer confidence indexes in all categories rose for the second consecutive month in January, especially the confidence in the situation in the country and future income. He cited that the government’s flood relief program, new salary adjustments and consumer spending during the Chinese New Year have prompted the CCI to reach 24.2 in January, which is a 3-point increase from December last year.
The Permanent Secretary added that despite the improvement, the index still remains below 50 point, which he said is the result of public concerns over corruption issues, rising product and oil prices as well as the fluctuations of the global economy.
Mr. Yanyong said according to the survey, Thai people need the government to step in and keep commodities at affordable prices. The government is also urged to oversee the prices of fuel, tackle unemployment, rebuild investor’s confidence in Thailand, prevent flooding, eradicate corruption and clamp down on narcotics.