August inflation forecast at 0.3% (11/08)
06/08/2010 - 164 Lượt xem
Factors contributing to higher domestic prices, would include crude oil price which continued to remain high on the world market - over US$70 per barrel - due to political upheavals including war in
The world’s rice supply was also low in the first half of the year, putting pressure on domestic rice prices.
The current storm season was also expected to hamper the coming rice harvest, says the department. The continuing threat of the bird flu virus would also likely drive up food prices, said the ministry.
The back-to-school season also triggers higher consumer spending, driving up demand and prices for stationery and other products.
The Ministry of Finance has suggested a five-step plan to stabilise the domestic market, which includes efforts to balance supply and demand for essential goods such as energy, steel, cement and fertiliser; to continue subsidising domestic petrol prices; to take precautions against natural disasters and epidemics; to reduce production costs; and to reinforce market oversight and administration.
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