BANGKOK, 16 July 2012 – Permanent Secretary for Commerce Yanyong Phuangrach has admitted that the floating of LPG prices could prompt the prices of ready-to-eat meals to increase and should be studied carefully in advance.
Mr. Yanyong is urging the government to conduct a study on each group of LPG users before implementing its plan to allow LPG prices to float at the end of August. He added that if the government decides to proceed with this plan, it could boost inflation for the following four months by 0.037 percent and also increase the prices of ready-to-eat meals by 25 satang per serving.
The Permanent Secretary said the study would enable the government to identify which group of consumers would be most affected by the LPG price rise. He believed that small businesses could eventually pass their financial responsibility on to their clients by raising prices of their products.
Mr. Yanyong added, however, that the industrial sector would not be affected much as it has already been adjusting to the scenario.
