Bangkok: The deputy spokesperson of the Kla Tham Party has urged the Minister of Commerce to quickly address the problem of high prices before people are financially ruined. Peerawas Somwong, representing the opposition Kla Tham Party, expressed concerns over Thailand's escalating cost of living and inflation, emphasizing the need for immediate governmental intervention.
According to Thai News Agency, Peerawas highlighted the significant rise in Thailand's overall inflation, which climbed from -0.88% in February to 2.79% in May. This increase has been attributed to the rising costs of oil, transportation, processed foods, fresh vegetables, and daily necessities. Peerawas criticized the Ministry of Commerce, led by Deputy Prime Minister and Minister of Commerce Supajee Suthamphan, for failing to implement effective measures to control these prices. He questioned the ministry's reliance on meetings and occasional price reduction events, suggesting these actions are inadequate for the pressing economic situation.
The Ministry of Commerce acknowledged that May's inflation was driven by high oil prices, conflicts in the Middle East, and the closure of the Strait of Hormuz, among other factors. Peerawas argued that the ministry's awareness of these root causes should have prompted more proactive measures. He criticized the ministry for allowing the costs to affect consumers without establishing protective measures to mitigate the impact on household incomes.
Peerawas also noted that the inflation crisis is not unique to Thailand, citing high inflation rates in the United States and Taiwan as examples where governments are taking proactive measures. He emphasized the discrepancy between the Ministry of Commerce's projections for 2026 and the Bank of Thailand's higher estimates, warning that the public may face even greater financial challenges if further preventative action is not taken.
The Kla Tham Party called on the Minister of Commerce to provide transparency regarding price increase requests, prosecutions against price gouging, and the effectiveness of cost-of-living reduction programs. Peerawas stressed that the Ministry of Commerce must act as a protector of the cost of living to maintain public confidence in the government.