Get ready for anger at shops everywhere, as the Thai Commerce Minister has approved price increases for over 60 essential products for individual consumers, as manufacturers have said they can no longer maintain a cap on prices due to rising oil cost. Items such as powdered milk, soaps, toothpaste, shampoo,m deoderants, and general household and personal cleaning products will gain 5-15% in price over the next week.
The government has no plans to cap prices further, but say that they predict the economy to improve in the last quarter of 2008. The key to everything is oil prices and OPEC says this is out of their control as speculators push up the price to take advantage of the the world’s addiction to oil.
It’s going to get uglier, folks, so get yourself a bike and stockpile of essentials.