Bangkok:The Commerce Ministry has expressed concerns over rising energy costs potentially impacting the cost of living, following protests across Europe. The Permanent Secretary of Commerce is taking steps to mitigate potential effects on consumer purchasing power and living costs.

According to Thai News Agency, the Permanent Secretary, Mr. Poonpong Naiyanapakorn, highlighted that Deputy Prime Minister and Minister of Commerce, Ms. Supajee Suthamphan, has directed the ministry to monitor global inflation and Thailand's cost of living. With high energy and transportation costs posing risks, they aim to prevent these from affecting product costs and consumer purchasing power.

The protests in Europe underscore that living costs are driven by multiple pressures, not just inflation, such as income disparities and public service concerns. While Thailand faces similar pressures, its context differs, with price pressures on goods and services being more contained. The Ministry of Commerce is thus focused on proactive monitoring to prevent widespread price hikes.

Mr. Poonpong outlined three key measures to address the cost of living monitoring commodity prices, expanding distribution channels for affordable goods, and collaborating with the private sector to reduce public burdens. These measures include price tracking, delaying price increases, and projects like "Thai Helps Thai, Blue Flag to Reduce Living Costs" to offer essential goods at reduced prices.

If energy prices stay high, the ministry plans to intensify monitoring of production and transportation costs, working with businesses to manage costs without burdening consumers. Legal price controls and expanded distribution channels are also part of their strategy to balance public cost management with business viability.

Mr. Poonpong emphasized that long-term solutions require more than price controls; they necessitate increasing universal incomes with cooperation from all relevant agencies. The ministry will continue supporting farmers, monitoring essential goods prices, and maintaining consumer purchasing power to achieve economic balance.