Suwon City Prepares 'Price Stabilization Measures' Including Public Utility Fee Freeze

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Suwon City in Gyeonggi Province is preparing and implementing measures to stabilize prices, such as freezing local public utility charges, amid rapidly rising consumer prices.

On the 20th, Suwon City announced that it has prepared price stabilization measures in four areas: ▲public utility charges ▲Good Price Stores ▲distribution ▲price surveys to ease the burden on citizens caused by rising prices.

First, the city will freeze local public utility charges such as water and sewage fees and volume-based waste bag prices, and plans to consider 'postponing increases' in fees for using public facilities in Suwon.

In addition, by July this year, the city will enact an ordinance to provide stable support for 'Good Price Stores' and secure supplementary budgets to expand support for these stores. Good Price Stores designated by the government and local governments are exemplary price stabilization businesses that provide consumers with quality services at affordable prices through efficient management.

The city will also promote price stabilization measures in the distribution sector. It plans to pursue a 'Distribution System Improvement Agreement' with organizations related to agricultural and marine product distribution and operate a 'Public-Private Working Council on Agricultural and Marine Product Distribution.'

If shortages occur due to rising prices, the city is also considering limiting the sales quantity of the relevant items in cooperation with large-scale stores.

Furthermore, the city will survey prices in the Suwon area three times a month and disclose the results on the Suwon City website. In addition to regularly surveyed items, products with large price fluctuations such as cooking oil and flour will be included in the survey targets.

A city official emphasized, "As prices rise sharply, citizens who have suffered from the prolonged COVID-19 pandemic are facing difficulties again," adding, "We will actively implement price stabilization measures to curb price increases."

Meanwhile, as of last month, the consumer price inflation rate was 4.8% compared to the same month last year, marking the highest level in 13 years and 6 months since October 2008 (4.8%).