High Cost of Living: Thai Tycoons Step In to Offer Discounts on Essentials
The Thai government has begun involving conglomerates and billionaires to curb the surge in living costs felt by the public. This step underscores the significant role of large business groups in the country’s economy.
Several major retailers controlled by tycoons such as Charoen Sirivadhanabhakdi, the Chearavanont family, and the Chirathivat family have agreed to sell essential products at substantial discounts. Items like food, hygiene products, and daily necessities are being offered with price cuts of 25% to 50%.
This programme is part of the government campaign titled “Thais Helping Thais,” officially launched by Prime Minister Anutin Charnvirakul on 1 April.
Some of the major companies participating in the programme include CP All and CP Axtra owned by Dhanin Chearavanont, Central Retail Corp owned by the Chirathivat family, and Berli Jucker owned by Charoen.
“This is an important step in public-private sector collaboration. Certainly, consumers will be able to save money,” Anutin said, quoted from the Straits Times on Thursday (2/4/2026).
In recent weeks, the Thai government has been striving to protect public purchasing power amid rising prices, without burdening the already strained national budget. Although the government still controls prices for dozens of essential goods, surges in energy and production costs continue to drive up prices for items such as pork and eggs.
On the other hand, rising fuel prices are further squeezing household incomes, especially as economic growth is projected to slow due to weakening tourism and exports amid a global demand slowdown. The government’s move to partner with large corporations also highlights Thailand’s economic structure, which is heavily influenced by a handful of conglomerates.
On one hand, this collaboration can provide quick assistance during a crisis. On the other, economists argue that it strengthens market dominance by large groups and could widen inequality.
World Bank data shows that the top 10% of people in Thailand control around half of the national income, one of the highest rates in the world. This strategy is not new. During the Covid-19 pandemic, major Thai companies also played a key role in vaccine distribution, including providing facilities and logistical support.
In its implementation, thousands of wholesale stores, supermarkets, and minimarkets are now displaying prominent discount labels such as “50% off” to attract consumers to buy products at more affordable prices.
Although Thailand’s inflation has been in negative territory for the past 11 months, rising energy costs are expected to push inflation back into the central bank’s target range of 1% to 3% starting in 2026.
Separately, Thailand’s largest business groups have also raised their inflation projections to 2% to 3% from the previous 0.2% to 0.7%. Meanwhile, the 2026 economic growth projection has been lowered to 1.2% to 1.6%, from the previous 1.6% to 2%.