Commerce Ministry wishes unchanged goods prices after wage hike

NONTHABURI, Jan 19 (TNA) --The Internal Trade Department is confident that goods prices will not rise although the minimum daily wage will increase, saying commerce officials will take serious action against any price hike. Boonyarit Kalayanamit, director-general of the department, said that the wage would rise by 5-22 baht which would increase product costs by less than 1%. Therefore, a goods price rise would not be justified. He said more than 100 large and small-scaled operators would be convened to discuss goods prices on Jan 24. His department requires operators to officially inform it before any price rise or reduction in retail product quantities and his department will verify their written information before allowing such changes. Mr Boonyarit also said that the Commerce Ministry still capped the price of sugar at 23.50 baht per kilogram in Bangkok and nearby provinces. The Industry Ministry might write a letter to the Commerce Ministry to seek the floating price of sugar but the issue would have yet to seek approval from a committee on products and services and the cabinet. He said that the sugar price was on a declining trend and old sugar stocks remained, so a price hike was unlikely for the time being. (END)