Inflation comes down to instant noodles: The Thai government on Wednesday decided to raise the price of this popular food for the first time in 14 years, at the request of manufacturers.
The price of a packet of instant noodles, capped by the state, takes one baht (less than 0.03 euros) to seven baht (20 cents), an increase of 16%, higher than inflation, the department of domestic trade, which reports to the Ministry of Commerce. The increase will be effective from Thursday, officials said.
Increased production costs
Makers of five major local instant noodle brands had asked the government for permission to increase the selling price to 8 baht, due to rising production costs, related in particular to the conflict in Ukraine.
Thailand recorded its highest level of inflation in 14 years in May, at 7.7%. The kingdom, held back by a meager rebound in tourism, forecasts growth for 2022 of between 2.7% and 3.2%, among the lowest rates in Southeast Asia.
Source: BFM TV
