PM: Demand-supply, oil price cause goods price hike

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BANGKOK, 6 May 2012  – Prime Minister Yingluck Shinawatra has pointed out that the soaring goods price at present is due to the different demand-supply ratio and oil prices in each area of the country. 

The PM said that the ministers assigned to survey product prices at different sites have so far reported many inconsistencies in the prices of many products. Ms. Yingluck explained that the rising price is a result of the different level of demand-supply and oil prices, which vary according to each area. At the same time, price volatility, especially in agricultural products, has mainly been brought about by the hot weather, which is an uncontrollable factor causing fruits and vegetables to perish faster.

Regarding the difference in product prices in the capital and outside of Bangkok, the PM reasoned that the anomaly mainly depends on the initial cost of production. Additionally, she stated that non-flooded areas are not affected by the problem of goods price hike.

However, the PM has insisted that goods prices are currently on a downward trend despite the higher energy price.