Commerce Minister Gen Chatchai Sarikulya has ordered ministry officials to constantly check consumer goods prices at markets with the approach of Chinese New Year, while a senior officer said that so far goods prices remained stable.
Somchart Sroythong, chief inspector-general of the ministry, said after inspecting food prices at Wong Wian Yai market in Bangkok that prices of meat and vegetables remained stable during the approach to Chinese New Year.
Somchart said vegetable prices have now declined between 10-20 percent due to favorable weather and oversupply, and he believed prices would increase slightly before the celebration started.
Meanwhile, Gen Chatchai has ordered high-ranking ministry officials in the capital and in provinces to inspect goods prices on regular basis to prevent market profiteering.
Violators would face a maximum seven-year imprisonment, a fine of Bt140,000, or both.
A fresh chicken vendor said the market was rather slow due to the prevailing sluggish economy in the country.
Sales of chicken have declined approximately 10 percent and traders have been forced to lower prices.
The vendor said sales of poultry in the country would not increase much, while prices could jump about 10 percent during the Chinese New Year.
