Prime Minister Han Duck-soo has urged the Cabinet to find ways to help stabilize consumer prices.

Presiding over a Cabinet meeting on Tuesday, Han also called for the swift implementation of finalized policies.

Referring to the Bank of Korea’s upward revision of its inflation outlook this year from four-point-five to four-point-seven percent, the prime minister forecast a continuance of such conditions, considering external factors.

By enforcing various policies, Han stressed that the government must exert exhaustive efforts to manage inflation in order to stabilize people's livelihoods and to reduce the cost of living.

The prime minister added that the Cabinet is expected to approve plans seeking the maximum legal cut in fuel taxes and an easing of the burden on local businesses amid soaring raw material prices.