The price of imported food items and fuel is expected to remain high or continue to rise due to the current global trends as inflation continues to rise internationally.
Based on this, consumers need to be prepared and know that prices will not be coming down any time soon.
Chairman of the Commerce Commission and Economist, Doctor Mahendra Reddy said the devaluation and several global factors now in play means that we are at the mercy of changes of prices at the global level.
Doctor Reddy said the commission is responsible for setting price controls for about 5 percent of the items sold in the supermarkets and he said it is difficult to stabilise the prices due to increasing costs.
He said they have managed to keep the prices of certain brands of the basic food items low.
Story by: Vijay Narayan
Prices of imported food and fuel to remain high
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