DIT to hold off price hikes

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DIT to hold off price hikes
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BANGKOK, 27 August 2010 (NNT) – The Ministry of Commerce has confirmed that it will not allow price increases yet possibly pinning prices until year's end.

According to Department of Internal Trade (DIT) Director-General Vatchari Vimooktayon, the Ministry of Commerce has not yet approved any price hikes and has instead asked businesses to peg their prices until 30 September 2010.

All price fluctuations during this time must conform to ranges recommended by the Ministry of Commerce.

Consumer goods producers will be convened at the end of September to discuss production costs. They will be asked to hold prices until the end of 2010 if possible.

Based on a recent survey by the DIT on capital costs, it does not see a need to increase prices due to the improving economy and the controllable inflation.

they are facing an inflation problem here, and trying to stop it by raising interest rates and imposing price controls

this is going to be incompatible with their growth policies, which might have been accelerating recently

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Suan Dusit Poll: Expensive goods harming consumers

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BANGKOK, 3 September 2010 (NNT) – Consumers have been found to suffering from the rocketing prices of food and other household necessities, according to a recent survey by Suan Dusit Poll.

The Rajabhat Suan Dusit University Poll was carried out amongst 1,729 grocery shoppers nationwide from 29 August 2010 to 2 September 2010, collecting their opinions on the price of groceries. Over 60% of respondents admitted that they have been forced to be more frugal.

The top five most expensive items according to those surveyed are meat and eggs (40.13%), vegetables and fruits (22.98%), personal care goods and household products (14.62%), rice (12.03%), and dried foods and condiments (10.24%).

Asked how they are adapting to the problem, a majority 59.17% said they have relegated themselves to only the necessities. Some said they opted for cheaper substitute products or hunted sales promotions.

Suggestions to solve the heightened prices, 45.58% of respondents encouraged called for price controls.

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Domestic inflation at 3.3 pct in Aug. 2010

The domestic inflation rose for the 11th consecutive month, at 3.3 per cent in August 2010 after consumer prices rose 0.23 per cent from July.

The average domestic inflation for this year currently stands at 3.5 per cent, and is expected to be at 3.4 per cent for the year 2010, according to the Commerce
Ministry.

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ABAC Poll: White collar workers just have enough to make ends meet

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BANGKOK, 6 September 2010 (NNT) – White-collar workers are struggling to make ends meet, and most of them have no savings, according to a recent survey by the Assumption University Research Center (ABAC Poll).

The survey was conducted with people in 988 households in 12 provinces with earning less than 10,000 THB/month. The respondents were also asked about their confidence in the Government’s handling of the economy.

The survey showed that the respondents’ monthly expense was nearly equal to their income. Foods accounted for most of the monthly expense, costing 4,626.77 THB/month. This was followed by clothes, consumer goods, and entertainment expenses.

Asked about their savings, two-thirds of the respondents, or 65.8%, had no savings at all, both for fixed income earners and non-fixed income workers. Other 34.2% of the respondents had average savings of 1,369.37 THB/month.

Asked about their confidence towards the stability of the Government, 47.3% of the respondents had the same level of confidence they used to have; however, 40.7% of the non-fixed income earners had their confidence toward the Government reduced while 28.8% of fixed income earners also had a declining confidence.

Quote:

Originally Posted by StrontiumDog

White-collar workers are struggling to make ends meet

Blue and no collar workers must have a much bigger problem. Probably explains their return to home villages where they can get by on sustenance living.