Producers warned on prices
As an increase in the minimum wage rate should have a minor effect of less than 1 per cent on the cost of production, producers should not take this opportunity to increase prices, said Siripol Yodmuangcharoen, director general of the Internal Trade Department.
He said that before the Cabinet approved a minimum wage increase of Bt3 to Bt7 a day from next year, the Internal Trade Department studied the impact of the rise on the cost of production and found product prices would increase by only 0.012 to 0.707 per cent.The item most affected by the wage rise is student uniforms, whose price is likely to be affected by 0.707 per cent. The least affected product is shampoo, which should increase only 0.012 per cent. The Cabinet approved a wage rise effective from January of Bt7, from Bt184 to Bt191 in Bangkok, an increase of 3.80 per cent. The wage increases vary according to province. - The Nation
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