Consumption Expenditure News
- Local govts. urged tomaintain stable prices
Date: 31-Jul-2007 Sources: (Shenzhen Daily)
CHINA'S economic planning agency urged local governments yesterday to help maintain basic price stability, as consumer price rises at the local level exceed official targets.
Local governments aren't allowed to make adjustments to government pricing policies this year in areas where consumer price rises have sharply overshot targeted levels, the National Development and Reform Commission said in a statement on its Web site.
Pricing policy changes aimed at energy and environment conservation, however, are exempt from this request, the commission said.
The National Development and Reform Commission's call comes after China's consumer price index (CPI) rose 3.2 percent in the first half from a year earlier, driven by rising food prices.
The Central Government has set a target of keeping the CPI increase this year to within 3 percent.
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