Inflation tsunami : steel, fertilizer, animal feed and construction materials sectors want to increase their prices

The dams are about to break.

In light of high inflationary pressure in the country, prices of several products in the local market may go further up this week.

And, the Commerce Minister has already planned to invite manufacturers from the steel, fertilizer, animal feed and construction materials sectors to a meeting on the direction of their prices.

The meeting is expected this week. Internal Trade Department Director-General Yanyong Phuangrach said that all four sectors are now suffering surging costs from their imports of materials and are now asking for the ministry’s approval for a price rise.

He said that the planned meetings would be conducted individually, with all related parties, including academics and related government offices, to join and help find the most suitable solutions for each product group. (TNA)

The Commerce Minister can organize all the meetings he wants… and can speculate about the “direction” of prices (downard, what a joke !) the bottom line is prices will increase.

I repeat : prices will increase.

At one point, the head in the sand policy, the “postponement” policy, the capped prices policy… just can’t work anymore.

The thai authorities just don’t get it. It’s going to be painful.

Because, you can be sure that when steel, material constructions, fertilizers and other basic raw materials will increase… prices of many manufactured goods and services will follow. After.

It’s Economy 101. And It’s the inflation tsunami on the move.

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