Thai Households Dig Deep into Pockets for Housing and Utilities in May
Thai households' primary expenditures unveiled by TPSO
According to the Trade Policy and Strategy Office (TPSO), Thai households splurged a staggering 21,037 baht on average in May, with housing and utility costs taking the lion's share of the spending pie.
As per the TPSO director, Poonpong Naiyanapakorn, this spending occurred amid a slight increase in the Consumer Price Index, which stood at 100.40 in May, up from 100.14 in April.
This spending can be categorized into two main sections: expenses unrelated to food and non-alcoholic beverages on one hand, and those related to that group on the other. Poonpong highlighted that the former accounted for 60.45% of total household spending.
Delving deeper, Poonpong explained that a whopping 24.56% of the total spending, approximately 5,167 baht, was allocated to housing costs, including rent, electricity, gas, and household appliances.
Other notable expenditures included transportation, fuel, and mobile phone bills (22.16% or 4,661 baht), healthcare (6.36% or 1,335 baht), education (4.04% or 849 baht), and clothing (2.09% or 440 baht). Cigarettes and alcohol accounted for a mere 1.24% of the total spending, amounting to 216 baht.
The remaining 39.55% of the total spending was allocated to food and non-alcoholic beverages. Ready-to-eat meals, including rice-and-curry dishes and fast food, swallowed 3,508 baht of this chunk.
Other significant food-related expenses included meat, pork, chicken, and fish (7.45% or 1,568 baht), vegetables (4.80% or 1,009 baht), rice, flour, and bread (3.46% or 728 baht), non-alcoholic drinks (3.37% or 708 baht), dairy products (1.74% or 365 baht), seasonings (1.21% or 255 baht), and sugary products (0.86% or 180 baht).
While this overview provides insights into Thai household spending, it's essential to consider the broader economic climate and consumer behavior shaping these trends. Factors such as economic conditions, consumer confidence, and lifestyle shifts significantly influence household spending patterns. Additionally, utility costs continue to loom large as a substantial expense, whilst the housing and mortgage markets become increasingly difficult to navigate for consumers.
The Trade Policy and Strategy Office (TPSO) revealed that housing and utility costs accounted for 24.56% of total household spending in May, with an average of 5,167 baht allocated to it.
Besides housing, transportation, fuel, and mobile phone bills took up 22.16% (4,661 baht), followed by healthcare with 6.36% (1,335 baht) and education at 4.04% (849 baht).
Clothing and other personal-finance related expenses make up 2.09% and 1.24% of the total spending respectively, equating to 440 baht and 216 baht.
Hot on the heels of these expenses, food and non-alcoholic beverages comprised 39.55% of the spending, with ready-to-eat meals consuming the most significant share (3,508 baht). Other food-related costs include meat, vegetables, rice, non-alcoholic drinks, dairy products, seasonings, and sugary products.
