NDRC lifts freeze on product prices

The National Development and Reform Commission (NDRC) yesterday removed price controls on a range of products introduced in January as an anti-inflationary measure.

In a statement released on its website, the commission also called on local pricing departments to take "cautious steps" to ensure market stability and prevent abnormal price fluctuations.

The NDRC introduced price freezes on several products, including grain, edible oils, meat, milk and eggs, at the start of the year in response to concerns that a soaring consumer price index (CPI) would lead to high inflation.