> Hypermarkets to lead price-crush

Major supermarkets in the country are beginning to mark down prices starting Tuesday, said Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad.

For example, he said, the Giant store-chain had lowered prices by 30 per cent of 1,200 items and this move was being followed by other stores.

"We have also negotiated with all supermarkets and they have agreed to reduce prices," Shahrir said when officiating the price reduction campaign at Kinrara here.

He said monitoring by the government on prices was limited to controlled items like rice, flour and cooking oil.

Shahrir said suppliers and producers were encouraged to participate in the campaign and reduce their prices.

"We will call on consumer associations to discuss with food production associations like poultry breeders and others to get their consent to reduce prices," he said - Bernama.

It is hoped that this price-crush by hypermarkets will lead to shops following suit - My Journal.