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High prices in Thailand – A disappointing forcast

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High prices in Thailand – A disappointing forcast

Prices will remain high in Thailand for another three months, maybe even a year – a survey of business executives

The Federation of Thai Industries surveyed 150 CEOs in Thailand, CEOs believe prices will remain high.

A survey of CEOs in Thailand has revealed that prices of goods will remain high for at least another three months due to high production and fuel costs, the Khaosod newspaper quoted the Federation of Thai Industries as saying.

Virat Wanarumit, vice chairman of the federation, said 150 CEOs of Thai companies were surveyed this month. All respondents blamed high prices on a shortage of raw materials and rising production and fuel costs.

“High prices in Thailand will continue for at least three months and possibly until the end of this year if energy prices remain high,” said Virat and warned that businesses could only freeze their current prices for 1-2 months.

Company executives expect inflation to be 2-4% this year, Virat added.

The Federation of Thai Industries is calling on the government to help people by reducing electricity, water and transport tariffs and cutting taxes on oil and essential goods.

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