Cabinet committee reviews price situation

The Cabinet Committee on Prices today met to review the surging food prices, and is believed to have taken some decision to augment supply of wheat and rice.

An official statement on the decisions taken at the meeting, chaired by prime minister Manmohan Singh, is expected to be released later in the day, official sources said.

The meeting assumes importance, as prices of essential commodities continued to surge though the rate of price rise has come down in the recent weeks.

Food inflation eased to 16.81% during the week ended January 9 from 17.28% a week ago.