New commerce minister targets rising cost of living
Prices of some consumer goods are expected to drop tomorrow, following the government's reduction in energy prices, according to the Commerce Ministry.
Newly-appointed Commerce Minister Phumtham Wechayachai announced plans to address the rising cost of living. The ministry will analyse the costs of products with a focus on daily necessities. Products that can be reduced in price will be adjusted immediately, while efforts will be made to control the prices of essential items.
Phumtham stated that the ministry is currently analysing the costs of various products and will reduce prices wherever possible. Even if some reductions are not feasible, attempts will be made to minimise costs. The government encourages producers, retailers, and service providers to cooperate in reducing prices and services for the public, aiming to significantly alleviate the burden on citizens within three months.
Poj Aramawattananon, Vice Chairman of the Board of Trade and Managing Director of Sea Value Plc, said the private sector does not want to sell products at high prices. However, prices depend on the entire production chain, and the Commerce Ministry's assistance is necessary to help reduce prices by cutting production costs.
Chatchai Tuangrattanaphan, Vice President of the Thai Retailers Association, said the association is prepared to reduce product prices to lessen the burden on consumers. A list of products prepared for price reduction was recently submitted to the Commerce Ministry's Department of Internal Trade, he said. These products include consumer goods, construction materials, and electrical appliances.
