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Thailand Must Freeze Cement, Oil Prices, Says Chief of Telecommunications Firm.
Byline: Srisamorn Phoosuphanusorn
May 4--Cement and oil prices need to be frozen otherwise the country's economy could run the risk of stagflation, according to Pisit Leeahtam, the president of TT&T.
Dr Pisit, a deputy finance minister in the previous government, said stagflation would mean rising inflation combined with declining output and employment.
Under such a scenario, the government would be hard-pressed to control the situation, especially if prices for key goods such as cement and fuel could not be restrained.
Since March, cement prices have risen by 30-50 percent while fuel prices have been increasing continuously since ...
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