The government is likely to start reducing the prices of 20 essential items next month, Commerce Minister Phumtham Wechayachai said on Wednesday.

Mr Phumtham, who is also a deputy prime minister, said he had asked the Internal Trade Department to analyse the cost of essential consumer goods and find ways to reduce prices, following moves by the government to cut electricity and diesel prices this month.

The department is expected to review the list of all products that affect the cost of living, determining their cost and estimating how much prices can be decreased. The analysis is expected to be completed in early October, he said.

Price reductions are projected for roughly 20 daily essential consumer products, including rice, chicken, pork and eggs, said Mr Phumtham.

“Next week we are scheduled to hold a discussion with major business operators to talk about this issue,” he said. “Big players need to assist small players and help tackle their problems, while the ministry aims to strike a balance between producers, entrepreneurs and consumers.