Leaders call for more fuel to cool global inflation
By SHINICHI TERADA Staff writer
TOYAKO, Hokkaido — The leaders of the Group of Eight nations addressed "strong concern" Tuesday about multiple transborder problems, including soaring energy and food prices, and urged the world's major energy producing states to increase output and refining to tame further price hikes.
"We express our strong concern about elevated commodity prices, especially oil and food, since they pose a serious challenge to stable growth worldwide, have serious implications for the most vulnerable, and increase global inflationary pressure," the leaders said in their statement on economic issues.
Soaring oil and food prices not only accelerate inflation but also batter
global growth by hurting businesses and consumption, posing a serious threat
to the poor.
The Japan Times: Wednesday, July 9, 2008
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