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Bangkok Post
Bangkok Post
Business

SCB sees stagflation for Thai economy

SCB EIC Thailand United States
A woman shops at a market in Bangkok on March 15. A higher inflation rate in Thailand may cause domestic spending to recover slower than the EIC previously forecast. (Photo: Varuth Hirunyatheb)

Thailand's economy has gone into stagflation because of a fragile recovery and surging price hikes, says an economist at the Economic Intelligence Center (EIC), a research unit under Siam Commercial Bank (SCB).

The EIC downgraded its 2022 economic growth forecast for Thailand to 2.7% from 3.2%. The revision was attributed to the Russia-Ukraine war, which sent energy and commodity prices soaring.

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