Thailand’s inflation rate is the lowest among the seven ASEAN countries which have already announced their rates, with inflation for the whole year expected to range between 1% and 2%, according to Poonpong Naiyanapakorn, director of the Commerce Ministry’s Trade Policy and Strategy Office.
Malaysia’s inflation rate is expected to remain moderate this year based on what the economic data indicates for the next few months, Malaysian Economy Minister Rafizi Ramli said on June 4.
Laos's inflation rate in April dropped to 39.89%, a slight fall from the average rate of 40.85% in the first quarter of this year, according to the Lao Statistics Bureau.
The Thai cabinet has approved a budget of 3.35 trillion THB (over 100 billion USD) for the 2024 fiscal year, government spokesman Anucha Burapachaisri has said.
Indonesia’s inflation rose slightly in December and remained above the central bank’s target range for the 7th successive month, as household spending increased during the year-end holidays.
The inflation rate in Laos surged to 38.46% in November, a record high in the last 23 years, according to the Statistics Bureau under the Lao Ministry of Planning and Investment.
The Lao economy is expected to recover in 2023 thanks to measures to increase new investment and enhance the production of renewable energy and mining activities, according to the Asian Development Bank (ADB).
Indonesia's inflation rate in September soared to its highest since October 2015 due to higher transport costs following a fuel price hike, according to Statistics Indonesia.
The headline consumer price index (CPI) of Thailand in August rose 7.86% year-on-year, the highest level since July 2008, the Thai Ministry of Commerce reported on September 5.
The Singapore-based United Overseas Bank has maintained its forecast for Vietnam’s GDP growth at 6.5 percent and core inflation rate at 3.7 percent of core inflation rate in 2022, but predicted that inflation may reach 5 percent in 2023 due to multiple risks and challenges.
Vietnam is likely to complete its target of 6.5 percent in economic growth for 2022, but the goal of keeping the inflation rate under 4 percent is tough, according to Assoc. Dr. To Trung Thanh from the National Economics University (NEU).
Thailand's economy has gone into stagflation because of a fragile recovery and surging price hikes, according to an economist at the Economic Intelligence Centre (EIC), a research unit under the Siam Commercial Bank (SCB).