Thailand govt steps up inflation fight with subsidies and price caps

In this file photo taken on March 6, 2020, a tuk-tuk driver, wearing a face mask amid concerns about the spread of the Covid-19 coronavirus, waits for tourists in front of the Grand Palace in Bangkok. - AFP

BANGKOK, June 18 (Bloomberg): Thailand is stepping up its battle against inflation by extending price caps on dozens of essential goods for another year and channeling a share of profit from oil refiners to fund energy subsidies for an extended period.

The government will continue controlling prices of more than four dozen essential goods and services such as rice, sugar, medicines, fertilizers and healthcare services until June next year, according to Commerce Minister Jurin Laksanawisit.