Vietnam Determined to Stabilize Consumer Prices

Deputy Prime Minister Nguyen Sinh Hung has urged ministries and agencies to take more drastic measures to curb consumer prices amid the increasing CPI, state media reported Monday.

 

Vietnam will be determined to rein CPI rise at 0.3 per cent in the late two months this year, Vietnam Economic Times cited Hung as saying.

 

This means the country will try to keep inflation rate at 8.4 per cent, still lower than the estimated GDP growth rate at 8.5 per cent for the whole year.

 

According to the General Statistics Office (GSO), consumer prices rose 8.12 per cent on-year since the beginning of this year, resulting from national calamities in the central and northwest regions, high prices of input materials and fuel in the world.

 

The CPI continued rising although the Ministry of Finance has reduced tax on imports, and sold bills and bonds to withdraw money from circulation.

 

Deputy PM said the ministries and agencies need to inspect and manage prices of commodities on the rise, such as foods, fertilizers, medicines, steel, milk and gas and speculating activities, while the Government will try to keep gasoline selling prices unchanged. (Vietnam Economic Times)