Deputy PM tells Thais to stay positive about price hike for pork, other goods

Photo by Remko Tanis on flickr

Pork prices aren’t the only costs rising. Prices for chicken prices, eggs, public boat fees, and toll fees are also increasing and Deputy PM Supattanapong Punmeechaow is now encouraging Thais to stay positive with the price hikes and is saying that it is temporary. He says the price increases are normal due to the law of supply and demand.

In an interview with Thai media, the deputy PM said the government is working on solutions to the price increases. The Thai cabinet consulted with the Bank of Thailand about controlling the inflation situation in Thailand. According to the information from the office of the National Economic and Social Development Council and other relevant institutions, Thailand is expected to have an inflation rate of 1% to 3%. The deputy PM noted that in comparison, the annual inflation rate in the US went up to 7%. He continued saying that the state is trying to control the price as much as possible, but it also depends on the market mechanism.

Supattanapong also urged the public to focus on the big picture together with the world economic situation, not only focus on the Thai situation. Many businesses and investments all over the world stopped due to Covid-19 making a production volume to be decreased. This situation is seen as short-term which will get better after the spread is under control.

SOURCE: Khaosod

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Petch Petpailin

Petpailin, or Petch, is a Thai translator and writer for The Thaiger who focuses on translating breakingThai news stories into English. With a background in field journalism, Petch brings several years of experience to the English News desk at The Thaiger. Before joining The Thaiger, Petch worked as a content writer for several known blogging sites in Bangkok, including Happio and The Smart Local. Her articles have been syndicated by many big publishers in Thailand and internationally, including the Daily Mail, The Sun and the Bangkok Post. She is a news writer who stops reading news on the weekends to spend more time cafe hopping and petting dwarf shrimp! But during office hours, you can find Petch on LinkedIn and you can reach her by email at petch@thethaiger.com.

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