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Price rise a global phenomenon: Congress
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NewsByte on 01 April, 2008 02:12:00
 
All India Congress Committee(AICC) Media Department Chairman, M Veerappa Moily,
told reporters that the party would ask the government to ban future trading in
more farm items. It had effected such a ban with regard to some agricultural
commodities including wheat.
Expressing hope that there was light at the end of the tunnel, Moily said that
the Government has taken a series of steps and is contemplating more steps which
would bring down the prices sooner than later. Noting that, it was a food-led
inflation, he said China's inflation rate of 8.7 per cent for February 2008 has
been its highest in the last 12 years with the country witnessing a "staggering"
rise in pork and vegetable prices.
On a day when the Left parties asked the Government to bring down prices of
essential commodities within a fortnight, Moily said that the prices of both the
commodities in China have risen by 63.4 per cent and 46 per cent respectively
and there has been a sizable increase in the prices of food, fats and oils and
grain in low and middle income countries in six months ending February 2008.
Asked whether a meeting of the Congress Working Committee is on the cards to
discuss the issue, Moily said, "No date has been fixed and the matter is being
contemplated by the Congress President". (PTI)