Thai government to control inflation prices for consumer products

As the Thai government attempts to control inflation, the PM Prayut Chan-o-cha says that there must be no shortages of consumer products or outages, and the prices must not be too expensive.

The world wide inflation problems have been created by government’s artificially over-heating economies with quantitative easing rising energy and commodity prices and exacerbated by the ongoing Russia-Ukraine war. Prayut says he is directing ministers to keep inflation under control at the weekly cabinet meeting.

Fresh meat, canned products, rice, milk, cooking oil, instant noodles, electricity, cement, and fertilisers are among the 18 items that must be kept under control, according to the PM.

“What’s important is no consumer goods must run short, there must be no power outages and the prices of the 18 controlled goods must not change.”

Prayut promised to create solutions to soften the impact of inflation on the public but stressed that it must be properly managed due to budget restrictions. The government is already investing in a variety of economic rehabilitation projects.

The PM says he’s worried about farmers, who are the most vulnerable to facing higher prices.

“If rising prices limit their ability to produce, it will have a bad impact on the supply chain, pushing consumer goods prices even higher.”

SOURCE: Bangkok Post