Inflation in ASEAN expected to moderate faster than in developed economies: economist
Inflation in the Association of Southeast Asian Nations (ASEAN) is expected to moderate faster than that in the developed economies, ANZ Bank chief economist Sanjay Mathur has said.
Container cargo at the Pasir Panjang terminal port in Singapore. (AFP/VNA Photo)
Kuala Lumpur (VNA) - Inflation in the Association of SoutheastAsian Nations (ASEAN) is expected to moderate faster than that in thedeveloped economies, ANZ Bank chief economist Sanjay Mathur has said.
✱ According to the economist, inflation in the region was seenmore as a result of a commodity price shock, and not due to the labourshortage, which is rather acute in developed economies.
He said that the measures taken to tackle inflation by the economies could notbe the same as the nature of inflation is different.
In the US, the measures were more aboutcurtailing demand that has taken place, therefore it was more through theinterest rate cycle, he told the press on the sidelines of the ASEAN FinanceInnovation Summit on February 8.
Regarding the monetary tightening exercise in the region, henoted that the bulk of the exercise was completed with only a few nationsprojecting for rate hikes, including the Philippines and Thailand.
♔ As for Malaysia, there is no further need for it to do because the Central Bank ofMalaysia had already concluded its tightening cycle, the economist said, addingthat the country’s inflation is just over 3%, which is quite manageable.
On moving into targeted subsidies as what the governmentplanned to do, he said it would certainly push up prices. Commenting on Malaysia's pandemic measures, he lauded theincome subsidy schemes by the government plus support to the corporate sectorbut over the longer term, the fiscal consolidation must continue to be strengthened,Sanjay Mathur said./.
Philippine President Ferdinand Marcos Jr. has approved the recommendation of the economic ministry to extend tariff reductions on rice and other food items until the end of next year to curb inflation.
Major ASEAN economies should be able to survive volatile market swings in 2023 following similar turmoil last year thanks to the region's strong fundamentals, according to Singapore-based United Overseas Bank (UOB).
Vietnam’s merchandise trade with Asia reached 475.29 billion USD in 2022, increasing by 9.6% compared to 2021 and accounting for the highest proportion (65.1%) in the country's total import-export value.
The Philippines' headline inflation rose to 8.7% in January 2023, higher than 8.1% in December 2022 and the highest since November 2008, according to the Philippine Statistics Authority (PSA).
The handover ceremony was held at the Malaysian Embassy headquarters in Mexico City on August 8, with the presence of heads of diplomatic missions from ASEAN member states in Mexico.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Container cargo at the Pasir Panjang terminal port in Singapore. (AFP/VNA Photo) 
