Govt wakes up to high goods prices

Published on May 1, 2012 by TFP   ·   No Comments

BANGKOK, 1 May 2012 – Prime Minister YingluckShinawatra has instructed the Ministry of Commerce and the National Economic and Social Development Board to conduct an intensive study on the product price structure in the hope of resolving the problems of expensive goods.

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said on Tuesday that the premier had told the two government units to conduct detailed analysis of the cost of production of commodities from the upstream to the downstream. The study is hoped to nip the problems of rising product prices in the bud.

Kittirat said prices of many products, instant food in particular, have significantly increased lately, and that he has ordered the Ministry of Commerce to ensure fair prices and prevent consumers from being taken advantage of.

According to the Ministry of Commerce, the April inflation rate decreased from the previous month while this year’s four-month inflation stayed at 3.16%, lower than the 3.5% level considered appropriate for economic growth. The 3.16% rate was still within the ministry’s inflation framework of 3.3-3.8%. As a result, the main solution to high product prices was to regulate the price structure.

(NNT : Chindarat Bovornboriharn)


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