Thai PM:Government is solving rising costs

BANGKOK, May 5 (TNA) - Thai Prime Minister Yingluck Shinawatra acknowledged Saturday that her government is solving rising costs of living for local consumers and the Ministry Commerce is seeking ways to help lower manufacturers’ production costs to cool off rising inflation. Speaking during her weekly address, Yingluck pointed out, however, that the prices of several goods items have started to drop, as local manufacturers, affected by Thailand's flooding crisis late last year, have begun resuming their production, raising domestic goods supply. Yingluck indicated that the steadily-rising prices of several products over the past months were found to have been caused by flood-affected goods distribution systems and impacts from rising world oil prices. Yingluck insisted that her government has implemented several measures to cushion the rising costs of living for people, including deferring levies collected for the state oil fund, freezing cooking gas prices for local households until the end of this year and further promoting use of alternative energy in the country. The Pheu Thai premier assessed that post-flood demand for goods on the domestic market should meet supply after June 2012. (TNA)