ID :
101317
Wed, 01/20/2010 - 12:02
Auther :
Shortlink :
https://www.oananews.org//node/101317
The shortlink copeid
Gov't seeks to stabilize prices before Lunar New Year holiday
SEOUL, Jan. 20 (Yonhap) -- The government said Wednesday that it will intensify efforts to stabilize consumer prices, a move aimed at reducing the burden on those in the low and middle income brackets caused by a hike in the cost of daily necessities.
According to measures jointly unveiled by the economy-related ministries, the
government will closely monitor market prices for 24 items that could fluctuate
sharply ahead of the upcoming Lunar New Year holiday.
The Lunar New Year, which falls on Feb. 13-15, is one of the nation's largest
traditional holidays when millions of people visit their hometowns to see
relatives and pay respects to their ancestors. The period usually witnesses a
hike in overall consumer prices due to increasing demand.
"Despite improving economic conditions, the benefits are not being felt by
ordinary people due to contracting incomes and frozen labor markets. The recent
cold spell and other factors are also raising concerns over possible price
instability," the government said in a press release.
"Against this backdrop, we need to intensify efforts to stabilize the livelihood
of our people and actively respond to any price-disturbing factors," it added.
Prices for 18 agricultural, dairy and fishery products will be monitored by the
government on a daily basis, while costs for six service-related activities,
including hair cuts, will also be closely watched, the government said.
Supplies will be tripled to meet an expected spike in demand and to help
stabilize consumer prices, it added.
More energy subsides will be given to low-income people for gas and briquettes
used to heat their homes, as the recent cold spell is feared to send energy bills
sharply higher, according to the government.
Price collusion will also be among the government's main targets. The government
noted that it will crackdown on price rigging activities in the energy and
communications fields, while bread and other daily necessities will also be on
its watch list.
kokobj@yna.co.kr
According to measures jointly unveiled by the economy-related ministries, the
government will closely monitor market prices for 24 items that could fluctuate
sharply ahead of the upcoming Lunar New Year holiday.
The Lunar New Year, which falls on Feb. 13-15, is one of the nation's largest
traditional holidays when millions of people visit their hometowns to see
relatives and pay respects to their ancestors. The period usually witnesses a
hike in overall consumer prices due to increasing demand.
"Despite improving economic conditions, the benefits are not being felt by
ordinary people due to contracting incomes and frozen labor markets. The recent
cold spell and other factors are also raising concerns over possible price
instability," the government said in a press release.
"Against this backdrop, we need to intensify efforts to stabilize the livelihood
of our people and actively respond to any price-disturbing factors," it added.
Prices for 18 agricultural, dairy and fishery products will be monitored by the
government on a daily basis, while costs for six service-related activities,
including hair cuts, will also be closely watched, the government said.
Supplies will be tripled to meet an expected spike in demand and to help
stabilize consumer prices, it added.
More energy subsides will be given to low-income people for gas and briquettes
used to heat their homes, as the recent cold spell is feared to send energy bills
sharply higher, according to the government.
Price collusion will also be among the government's main targets. The government
noted that it will crackdown on price rigging activities in the energy and
communications fields, while bread and other daily necessities will also be on
its watch list.
kokobj@yna.co.kr
