Indian food prices to stabilise soon
Sunday, 7 February 2010
NEW DELHI, Feb 6 (Commodity Online): Indian Prime Minister Dr Manmohan Singh said Saturday the worst of food inflation is over and the situation will ease soon.
Speaking at the Chief Ministers' conference here he said, "The worst is over as far as food inflation is concerned. I am confident that we will soon be able to stabilise food prices."
"Food prices have softened in recent weeks and I expect this to continue," he told the Chief Ministers who voiced serious concern over the rising prices.
In a stern warning to hoarders, the Prime Minister said powers under the Essential Commodities Act would be used against them to stop artificial scarcity.
Driven by rising prices of essential food items like pulses and vegetables, food inflation touched a Decemberade high of nearly 20 per cent in Decemberember before moderating a little bit in January.
The Prime Minister said that good crop prospects and increasing linkages between the domestic and global food prices would help in stabilising the food inflation.
Speaking at the Chief Ministers' conference here he said, "The worst is over as far as food inflation is concerned. I am confident that we will soon be able to stabilise food prices."
"Food prices have softened in recent weeks and I expect this to continue," he told the Chief Ministers who voiced serious concern over the rising prices.
In a stern warning to hoarders, the Prime Minister said powers under the Essential Commodities Act would be used against them to stop artificial scarcity.
Driven by rising prices of essential food items like pulses and vegetables, food inflation touched a Decemberade high of nearly 20 per cent in Decemberember before moderating a little bit in January.
The Prime Minister said that good crop prospects and increasing linkages between the domestic and global food prices would help in stabilising the food inflation.