Market mechanism determines product prices

Commerce Minister Krirk-krai Jirapaet said the authorities would rather let market mechanism determine product prices, if there are other factors aside from oil prices that pressure the manufacturing cost.

He noted that though the ministry has closely monitored the prices of over 200 items, it does not mean that manufacturers cannot raise their prices if carrying a higher cost.

"Without price adjustment, manufacturers could stop their production. However, in raising product prices, several factors must be taken into account. From the list of 200 items, if any product price is raised without a good reason, the monitoring could be heightened. Yet, market mechanism will play a role. If manufacturers are really affected, they have to raise their prices and this should be understandable to consumers," he said.

- The Nation

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Market mechanism determines product prices

Commerce Minister Krirk-krai Jirapaet said the authorities would rather let market mechanism determine product prices, if there are other factors aside from oil prices that pressure the manufacturing cost.

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