Govt Limits Food Price Hike at 10% Max

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  • TEMPO.CO, Jakarta - The Trade Ministry is aware of the annual price hike of staple foods ahead of Ramadan and Eid. To prevent prices from skyrocketing, the government this year is setting a price hike limit at 10 percent at the most.

    "Any higher than that; we will conduct market inspections," Trade Minister Rachmat Gobel said yesterday.

    Gobel said his ministry will ensure that all markets received basic supplies evenly. His staff, he said, has coordinated with the Transportation Ministry, the Agriculture Ministry, as well as industry associations, manufacturers, and the Chamber of Commerce and Industry.

    Gobel guaranteed that there won't be hoarding by speculators that will lead to soaring prices. He made sure that his staff will immediately act upon any indication of speculations.