Thailand is ranked the least miserable country for the second year in a row out of a total of 74 economies surveyed by Bloomberg.
The Misery Index which was computed by adding inflation to the unemployment rate gave Thailand a score of 1.11 percent which is regarded as the best.
This year’s runner-ups are Singapore and Japan which scored 1.40 and 2.70 percent respectively. The UK ranks the 17th least miserable country while the US is ranked the 17th with China being placed on the 23rd spot.
Venezuela is at the other end of the scale scoring 188.2 percent making the country the world’s most miserable place as a result of plunging oil revenues which have led to food and medicine shortages.
Unemployment rate in Thailand was about one percent at the end of June while its consumer price index rose 0.1 percent year-on-year in July compared to 0.4 percent increase in June.
However, Bloomberg noted that it is not all roses for Thailand. Slowing inflation, though welcome for consumers, may signal a less than healthy economy.
Disinflation is a sign that demand for goods and services is insufficient to match supply in the economy.