Department of Internal Trade to keep a close watch on prices of essentials
The Department of Internal Trade has been monitoring impacts on the prices of products following the government’s announcement on Friday (December 6) that the legal minimum wage will be increased from Bt325 to Bt331 per day on January 1, 2020, Whichai Phochanakij, the department’s director general, revealed.
“Any impact on products’ prices is very small with an average around 0.006 per cent to 0.6 per cent,” he said.
The products affected by a rise of 0.6 per cent are school uniforms, vinegar, baby powder, bulbs, tyres, Portland cement, plastic bags, and chemical fertilizer. “The school uniform showed the most impact,” Whichai added.
Meanwhile, those products affected slightly or around 0.006 per cent were toothpaste, milk powder, refrigerators, small trucks, steel sheets, lubricants, pet food, and student’ shoes. “Amongst these, toothpaste showed the slightest impact” he said.
He added that the increased wage will not affect retail prices of products or cooked-to-order food.
“I have ordered provincial officers to check stores to prevent entrepreneurs from taking advantage of the increase in wages,” Whichai added. “Although some entrepreneurs have asked to increase their prices, I will absolutely not allow them to do so,” he confirmed.
