The KR-ECI index in December 2023 slightly decreased to 38.7 after improving for three consecutive months, attributed to increased spending during the final month of 2023, which featured long holidays. Meanwhile, the index for the next three months remained stable from the previous month at 40.5, as ongoing government measures to reduce energy costs alleviated household concerns regarding product prices.

Additionally, the Kasikorn Research Center conducted further inquiries regarding households' perspectives on the cost of living in 2024. It was found that the majority of households (68.7%) believe that the cost of living in 2024 will increase compared to 2023. Factors expected to contribute to this rise include trends in energy prices, uncertainties surrounding government measures, and unpredictable weather conditions.

For 2024, the Kasikorn Research Center forecasts that the KR-ECI index will continue to recover in line with the Thai economy, along with various government measures aimed at alleviating household concerns regarding the burden of living costs. However, there are various challenges that may pressure the index's recovery, such as fluctuations in global energy prices and the high level of household debt, while government spending stimulus measures that may take effect in the second half of 2024 remain a point to watch.

Read the full analysis at https://www.kasikornresearch.com/th/analysis/k-social-media/Pages/KRECI119-2024-01-08.aspx