23 Jan '11, 10pm

Food prices expected to stabilise in next few months: PM Lee

SINGAPORE - Allaying concerns over the rising food prices, Prime Minister Lee Hsien Loong said yesterday that he expects prices to stabilise in the next "few months". Mr Lee, who was giving out $44,000 worth of grocery vouchers and cash to some 290 underprivileged residents in Teck Ghee, also assured Singaporeans that various government assistance schemes were in place to help the needy. Speaking to reporters on the sidelines of the community event, the Prime Minister recalled that prices of food - particularly rice - had also increased sharply in 2008 when wholesale prices went up by at least 50 per cent. Then, Singapore had to make sure that there were enough supplies, said Mr Lee. He added: "We were able to maintain, keep the prices stable and see ourselves through that period. And after a few months, the prices came down again and inflation stabilised and I expect that...

Full article: http://www.todayonline.com/Singapore/EDC110124-0000104/Fo...

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