Government warns of up to 7 years in jail for unjustified price hikes

2026-03-04 - 02:33

BANGKOK — 3 March 2026, The government on Tuesday warned businesses against taking advantage of tensions in the Middle East by raising prices, saying violators face up to seven years in prison and fines of up to 140,000 baht. Ayrin Phanphruet, deputy government spokeswoman, said authorities are closely monitoring unrest in the Middle East and have instructed all relevant agencies to prepare response measures, particularly to ensure adequate supplies of essential consumer goods. She said retailers and business operators must not exploit the situation by increasing prices without justification and are required by law to clearly display prices for goods and services. The government urged strict compliance with the Price of Goods and Services Act B.E. 2542 (1999), which prohibits unjustified price increases, hoarding, and any actions deemed unfair to consumers. Offenders face a maximum penalty of seven years in prison, a fine of up to 140,000 baht, or both. Ayrin called on the public not to panic. Inspections by the Internal Trade Department under the Commerce Ministry found that consumer goods remain sufficiently stocked and there are currently no factors warranting price increases, she said. The government will continue to monitor the situation closely and take decisive legal action against those found exploiting consumers, she added. Consumers who encounter unjustified price hikes, failure to display prices or suspected hoarding can file complaints with the Internal Trade Department hotline at 1569 or at provincial commerce offices nationwide.