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BANGKOK, THAILAND - THAILAND'S commerce ministry has given the go-ahead for a price hike on basic consumer goods like toothpaste and powdered milk as soaring global oil prices push up costs, an official said on Thursday.
Bangkok taxi drivers are also set to raise their fares, the first such hike for the capital's cabbies since 1992.
Vatchari Vimooktayon, deputy director of the Internal Trade Department, approved price rises for about 60 consumer products after meeting manufacturers on Wednesday, a spokeswoman from the department said.
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Global oil prices surged to almost US$140 (S$191) on Monday before dropping back, while Thailand's inflation rate reached a 10-year high in May.
The spokeswoman said Thai manufacturers had since March 10 been cooperating with a government request not to raise their prices, but would now be able to apply for permission from the trade department for any increases.
The Ministry of Transport, meanwhile, has given permission for taxi drivers to raise their fares by 12 per cent, an official there said.
Bangkok's cabs mostly run on natural gas and have not been severely affected by the soaring cost of gasoline, but the general rising cost of living in the kingdom have taken their toll on the drivers.
The increase will take effect after the order is published in the royal gazette, which will likely happen next week, the official said. -- AFP
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