BANGKOK, Thailand – The Thai government has warned traders and business operators not to unfairly raise the prices of consumer goods amid current instability in the Middle East.
Deputy Government Spokesperson Airin Phanrit stated that authorities are monitoring the situation to ensure essential items remain affordable and available to the public.
Prime Minister’s Office has directed all relevant agencies, particularly the Department of Internal Trade (DIT), to strictly enforce the Price of Goods and Services Act B.E. 2542 (1999). Retailers are required by law to clearly display price tags and are strictly prohibited from hoarding goods or engaging in any practices that create an unfair burden on consumers.
The government emphasized that those found guilty of unreasonable price hikes or hoarding will face severe penalties, including up to seven years’ imprisonment, fines up to 140,000 THB, or both.
The spokesperson urged the public not to panic-buy, noting that recent Ministry of Commerce inspections confirm a stable and sufficient supply of consumer goods. There are no economic factors justifying price increases. The government will continue to take legal action against those exploiting the situation to protect the cost of living.
Anyone who encounters unjustified price increases, missing price displays, or suspected hoarding is encouraged to report these issues through the Department of Internal Trade hotline at 1569 or at provincial commerce offices nationwide for investigation and legal action. (NNT)
