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Livelihoods in Thailand are expected to remain high for the time being

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Livelihoods in Thailand are expected to remain high for the time being

A study by the Thai business community shows that high production and fuel costs are likely to keep raw material prices high for at least three months, the Confederation of Thai Industries said.

FTI Vice-Chairman Wirat Uanarumit said 150 CEOs had been interviewed this month. They blamed the scarcity of raw materials and rising production and fuel costs for the high prices.

“High prices will last for at least three months or possibly the end of this year if energy prices remain high,” he said. He pointed out that companies could only freeze their current prices for 1-2 months.

Wirat suggested that the government help the people by cutting costs for electricity, water and transportation, and lowering taxes on oil and other essential goods.

And ended his statement with CEOs expecting inflation to be 2-4% this year.

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