PM Abhisit: Thai Consumers Feel The Pinch Of Rising Goods Prices

[webfact]

PM: Thai consumers feel the pinch of rising goods prices

BANGKOK, 9 April 2011 (NNT) – Prime Minister Abhisit Vejjajiva has admitted that the ongoing rising product prices in Thailand are slowly squeezing household budgets forcing a contraction of every growth figure in the Consumer Confidence Index (CCI).

Prime Minister Abhisit pledged that the government is trying hard to control prices of individual products and keeping price adjustments under close monitoring in order to ensure that they are made appropriately and fairly to all sides.

The Center for Economic and Business Forecasting of the University of the Thai Chamber of Commerce earlier reported that the CCI for March 2011 had decreased for two consecutive months to stand at 79.8 points while the confidence index for overall Thai economy declined to 71 points.

Asked for his comment on the phenomenon that expensive goods this time are developing a deflation instead of an inflation, the prime minister said the current economic situation is not that clear. He noted that if looking at individual products, the level of prices is still very close to or less severe than that in 2008.

However, Prime Minister Abhisit admitted that only goods of high necessities such as vegetable oil are hard hit, but the government is urgently solving the problem.

-- NNT 2011-04-09

[TimeBandit2]

I guess we can all expected shortages of other products as well cooking oil then...

[jonclark]

I guess we can all expected shortages of other products as well cooking oil then...

To be expected, more people alive today than ever before, each person requires, land, food and water and unfortunately these are all in a limited supply unlike our ability to reproduce.

Simple case of the finite vs the infinite.

[rogerman]

If the truth be known, Cooking oil and Sugar are not actually in short supply........ The govt and powers to be are holding it back to push the prices up....They give a false message to the people so to start a panic and hoard whats available..... For me , sugar is cheaper to buy at 7-11 than in Tesco Lotus

[whybother]

If the truth be known, Cooking oil and Sugar are not actually in short supply........ The govt and powers to be are holding it back to push the prices up....They give a false message to the people so to start a panic and hoard whats available..... For me , sugar is cheaper to buy at 7-11 than in Tesco Lotus

The government pushing up the prices of products just before an election?? Why would they do that?

[Skywalker69]

Iam afraid....this is only the beginning

[thailandist]

If the truth be known, Cooking oil and Sugar are not actually in short supply........ The govt and powers to be are holding it back to push the prices up....They give a false message to the people so to start a panic and hoard whats available..... For me , sugar is cheaper to buy at 7-11 than in Tesco Lotus

What is your source for that information? I'm not saying your right or wrong, I would just like to know if its what you THINK or if is FACT.