Stricter scrutiny on farm cost
By Richard Fu |
June 19, 2012, Tuesday
|
Print Edition
Print Edition
CHINA has ordered local authorities to tighten price monitoring of farm produce as the government is determined to ensure consumer prices remain stable amid a flood season.
Its strong stance on prices comes even as the rise in the nation's Consumer Price Index, the main gauge of inflation, slowed to 3 percent in May, which was below expectations and the lowest in two years.
In a circular posted on its website yesterday, the National Development and Reform Commission required local governments to enhance price control and monitoring to stabilize the prices of vegetables and other farm products in the flood season.
They are ordered to ensure adequate stocks and subsidies, as part of contingency plans, are available to prepare for supply disruptions and price increases caused by floods, storms and other natural disasters, the top planning agency said.
Its strong stance on prices comes even as the rise in the nation's Consumer Price Index, the main gauge of inflation, slowed to 3 percent in May, which was below expectations and the lowest in two years.
In a circular posted on its website yesterday, the National Development and Reform Commission required local governments to enhance price control and monitoring to stabilize the prices of vegetables and other farm products in the flood season.
They are ordered to ensure adequate stocks and subsidies, as part of contingency plans, are available to prepare for supply disruptions and price increases caused by floods, storms and other natural disasters, the top planning agency said.
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