On October 13, Deputy PM Hue chaired a session in Hanoi reviewing management work on price increases over the first nine months of the year, and devising inflation control solutions for the remainder of the year.
The relevant ministries and agencies were urged to keep a close watch on the trend of price hikes in petrol, oil and gas, and pork to keep inflation in check.
According to a report of the Working Group of the National Steering Committee on Price Management, commodity prices over the nine-month period remained stable and were controlled under the target set by the Government and National Assembly.
The CPI growth rate slowed month-on-month, up 3.79% when compared to last year’s corresponding period. However, it soared by just 1.83% against last December.
With the positive results obtained in the first nine months and given price increases in essential goods in the last quarter of the year, Steering Committee members believed that CPI increase will surge below 4% in 2017, within the target set by the legislature.
Deputy PM Hue also requested that the Ministry of Agriculture and Rural Development update losses in agricultural production due to the impact of extreme weather aiming to manage well prices of farm produce to year-end.
He then called for the Ministry of Industry and Trade to work hand in hand with the Ministry of Finance in using the petroleum price stabilization fund properly, especially on the occasion of the Lunar New Year festival to keep a tight rein on inflation.
He also assigned the Ministry of Transport to work with investors and banks on the reduction of the BOT road tolls for 51 toll stations.
The Ministry of Health was asked to continue to direct localities in raising the prices of medical services under the roadmap from now till the end of 2017 while narrowing the scope of payment for social insurance services.
In addition, the State Bank of Vietnam (SBV) was tasked of keeping the core inflation rate at 1.6%, ensuring that credit growth is in line with inflation developments and capital inflow is allocated to prioritized areas.