Household debt reached 15.9 trillion baht in the first quarter of the year, according to the National Economic and Social Development Council. (Photo: Patipat Janthong)The consumer confidence index dropped to 55.6 in July from 56.7 the previous month as consumers were concerned about household debt, says Fiscal Policy Office director-general Pornchai Thiraveja. The ratio of household debt to GDP stood at 90.6%, representing a slight decrease from the previous quarter. Thailand's headline inflation declined to 0.38% in July mainly from lower raw food prices, while core inflation declined to 0.86% due to the high base last year. In July 2023, 2.49 million foreign tourists visited Thailand, representing an increase of 120% year-on-year.
