ISLAMABAD, Oct 4: The National Price Monitoring Committee (NPMC) on Thursday expressed satisfaction over 8.8 per cent fall in Consumer Price Index (CPI) during September 2012.

However, the committee sought cut in tea and cooking oil prices.

The committee, chaired by Secretary of Finance Dr Wajid Rana noted that containing monthly inflation to single digit shows government’s commitment to check headline inflation.

The 15th meeting of the NPMC held here on Thursday noted that it is the third consecutive month in which inflation is contained to single digit, while food and non-food inflation is recorded at 7.6 per cent and 9.7 per cent, respectively. However, the committee noted that prices of palm oil are decreasing in international market but its impact is not being transferred to local consumers.

The Ministry of Industries was advised to check the price movement and ensure that relief be transferred to consumers. It was also asked to check the rising trend in prices of tea.

The participants of the meeting expressed concern that prices of beef and mutton are much higher in Islamabad as compare to Rawalpindi.

The meeting also discussed disease surveillance system to take care of livestock.