By Abdullah Al-Harbi (With photos) KUWAIT, Sept 14 (KUNA) -- Most countries in the world face economic problems which would negatively impact on their economies and domestic markets, especially if not handled properly and treated according to a scientific method to ensure resolution and prevention of re-occurrence in the future.

Some observers note that the problem of high prices is among the most important problems faced by many countries of the world, particularly rising prices of food commodities and basic materials, threatening economies of those countries and warning of grave economic and developmental damage.

Many of the countries that suffer from the problem of high commodity and food prices especially the primary ones have adopted a number of means to combat this problem in order to achieve the required stability to local markets and protection from artificial increases.

These countries found in the price indices of goods and foodstuffs an important means to combat artificial increases and raise consumer awareness of fair price levels to be aware of an average price of each commodity at a set price.

Therefore, some of the international economic and developmental institutions have issued indicators of goods and food at the world level on a regular basis of which some countries would benefit in the development of local indicators that reflect effects on their local markets by the global level of prices and this what makes the consumer aware of the artificial rate increases, if any.

A number of states which launch local indicators of commodity prices and foodstuffs rely basically on the index of the Food and Agriculture Organization (FAO) on food prices, which follows up sources of each commodity and the most prominent changes in the monthly cost up or down.

The Central Statistics Office in Kuwait and in cooperation with the Ministry of Commerce and Industry issue a monthly index for a range of goods and basic materials in various sectors including the food sector to monitor any increase or decrease in the level of food prices, and then evaluate them by the competent authorities. (end).

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