Consumers Upbeat, Businesses Cautious Amid Falling Fuel Prices

Consumers upbeat, businesses cautious Lower fuel prices ease cost pressures PUBLISHED : 10 Jul 2026 at 05:34 NEWSPAPER SECTION: Business WRITER: Kuakul Mornkum Consumer confidence rebounded for the first time in four months in June, supported by falling oil prices and the implementation of the "Thai Chuay Thai Plus" (Thais Help Thais) co-payment scheme, according to the University of the Thai Chamber of Commerce (UTCC). The consumer confidence index (CCI) tallied 50.7 in June, according to a survey by the UTCC's Center for Economic and Business Forecasting. Meanwhile, the Thai Chamber of Commerce confidence index (TCC-CI), based on a survey of 369 business operators nationwide, was 41.4, down 0.3 points from May and roughly three points below the level recorded before the Middle East conflict began, at 44.5 in February. Thanavath Phonvichai, president of the UTCC, said the mismatch between the rising CCI and declining TCC-CI in June highlighted differing economic perceptions among consumers and business operators. For consumers, stimulus measures, particularly the co-payment scheme, have injected money into the economy and increased purchasing power. The easing of tensions in the Middle East and the drop in fuel prices from recent highs have helped improve consumer sentiment. In contrast, despite the government's 50-billion-baht injection through the co-payment scheme, business operators believe the support has been inadequate to offset rising operating costs. Sluggish border trade and weak foreign arrivals continue to weigh on business confidence, contributing to the negative outlook reflected in the TCC-CI. He said business operators remain in a wait-and-see mode, looking for clear signs of recovery such as a permanent resolution to the Middle East conflict. "If a permanent ceasefire is achieved, the Thai government addresses the energy pricing structure, and stimulus measures continue, consumer spending power should recover by the end of the third quarter," said Mr Thanavath. During the previous co-payment scheme, which ran from late October to December 2025, many Thais viewed the subsidy as "extra money", he noted. As a result, some consumers spent more or purchased non-essential items. However, perceptions have changed under the current co-payment scheme because of the impact of the Middle East conflict, said Mr Thanavath. Consumers now see the subsidy as financial relief to help offset the higher cost of living, making them more likely to spend it on daily necessities.