After the good old recipe to declare inflation illegal, by constantly delaying prices hikes asked by manufacturers, it seems that the new government is willing to go one step further toward a Zimbabwe style policy.
The new Commerce Minister said that the price of 30 products would be cut !
The boss of the company that produces Mama instant noodles, was quick
to react :
“It’s impossible,” said Thai President Foods director and president Pipat Paniangvait. The company produces Mama instant noodles and recently increased its price by Bt1 per pack.
“Can the Commerce Ministry compensate us for one baht a pack? If the ministry can, it’s possible. Or why don’t they buy out the company? It’s ridiculous to force us to cut prices by legal means,” he said. (Nation)
I bet the Commerce Ministry was overwhelmed by the joy to discover his new office and that he spoke a litte bit too fast…
Inflation is rampant everywhere……
Global inflation climbs to historic levels
http://www.iht.com/articles/2008/02/12/business/inflate.php