Thai PM:Goods prices will likely return to normal in mid-2012

BANGKOK, March 17 (TNA) - Thai Prime Minister Yingluck Shinawatra said Saturday that rising goods prices are likely to return to normal in June 2012. Speaking during her live weekly address at Baan Pitsanulok in Bangkok, the official residence of the Thai prime minister, Yingluck told the public that she has ordered the Ministry of Commerce to set up more government-sponsored "Blue Flag, Low Price" outlets in every community throughout the country to ease people’s hardships over the rising prices of products, starting later this month, and to also set the standard for goods prices offered on the domestic market. According to the Pheu Thai premier, statistics have shown that current goods prices in the country remain steady, compared with those in March last year, but the products prices have dropped from the fourth quarter of 2011. However, prices of some commodities have risen due to impacts from a massive flooding in the country late last year, forcing several local manufacturing plants to close down. The prime minister acknowledged that the goods prices have now started falling and are expected to return to their normal levels in June. Regarding ongoing shortages of palm oil on the domestic market, Premier Yingluck assessed that the problem should continue for only about a month, noting that she has ordered both the Energy and the Industry Ministries to work together to also solve rising prices of cooking gas. (TNA)