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Hua Hin
Tuesday, February 27, 2024

As the cost of living issue increases, manufacturers are being urged to keep costs low

This year, manufacturing costs for essential products and commodities are projected to remain high. In order to alleviate the public’s cost-of-living dilemma, commercial affairs officials are requesting manufacturers to maintain reasonable prices.

In an effort to alleviate the cost of living crisis, the Department of Internal Trade (DIT) stated that it has requested that manufacturers maintain the present prices of their products.

The manufacturing sector will continue to be impacted by high raw material and energy costs, resulting in an increase in production costs overall.

Wattanasak Sur-iam, director general of the Department of International Trade, stated that the department has applied the Win-Win model, which strives to have the least negative impact on both manufacturers and consumers.

According to him, the agency has been considering manufacturers’ requests for price increases in order to guarantee that prices accurately represent actual costs. To prevent price gouging, the DIT regularly analyzes the prices of items on a daily basis. During the preceding week, prices for fresh foods such as meat, vegetables, and palm oil in bottles decreased, with the exception of eggs, which witnessed a modest increase. Other supermarket prices, such as those for sardines in a can, soy sauce, and fish sauce, have remained unchanged.

Mr. Wattanasak stated that the department’s efforts to preserve the existing level of retail prices through cost-cutting initiatives had been met with favorable cooperation from manufacturers. In addition, the DIT will perform more random inspections of retail locations this year.

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february, 2024