24 Jul 2013

New Caledonia price freeze becomes official

3:00 pm on 24 July 2013

The New Caledonian government has made official the price freeze agreed to in May to end of a 12-day general strike against the high cost of living.

The new local law provides for the prices, which were in place at the beginning of April, to be maintained until the end of next year.

The price freeze doesn't apply to tobacco products and alcoholic drinks.

To end the strike, a 10 percent price cut was also decided to apply to 500 consumer goods.

The deal also lowered phone and internet costs as well as bank fees amid public anger that prices are about a third higher than in France.