Top economic planner forecasts long-term stable prices

China's top economic planner said Thursday the country would not see overall, long-term big prices rise as the overall supply matched the nation's demand.

The National Development and Reform Commission (NDRC) said in a statement that a "surge in credit and continuous price rises of certain products and property resulted in rising inflation expectations in the country".

"Sufficient material supply" such as ample reserves of grain and competitive pressures would help stabilize prices, the NDRC said, without providing details.

The NDRC asked local authorities to step up strict prices monitoring and stabilize prices of important products including food, gas and transport, to ensure people's needs.

Efforts should be made to avoid concentration of price rises and big price rises, said the statement.

Source: BizChina