Mom-and-pop stores are feeling the effect of the economic slump as goods become more expensive and authorities hold off on permitting price hikes for the time being.
A recent analysis piece from local business news outlet ‘Thansettakij’ indicated that many countries, including Thailand, have to deal with sharply higher consumer price products. The issue mainly stems from the ongoing armed conflict between Russia and Ukraine, which has disrupted supply chains and impacted production costs.
Affected items include instant noodles, energy drinks, soft drinks, detergents, fertilizers, and animal feed, to name a few.
According to a recent Thansettakij poll, prices of ready-made meals have already risen by 5-10 baht. Shop owners have justified price hikes by noting that a 15-kilogram cylinder of cooking gas now costs 450 baht. They also said the prices of some ingredients have gone up.
Sukhothai provincial wholesalers and retailers meanwhile say higher-priced goods have driven them to charge more to small shops.
These business owners said they must notify customers in advance before raising prices on items for which they are permitted to do so. However, products for which the government does not currently allow price hikes can only be sold at the labeled price.
Consumers meanwhile say they want the government to address the issue of high living expenses, noting that short-term solutions such as sales events are no longer adequate. (NNT)
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