VOV.VN - Ensuring the balance of supply and demand in the local market following steel prices enduring a recent sharp rise of between 40% and 50% compared to last year should be made a priority, according to the Ministry of Finance.

The average consumer price index (CPI) in the first four months of this year inched up 0.89% from the same period last year, the lowest rise for the period since 2016 and clearing the way for the country to achieve its goal of keeping inflation at below 4% for the year as a whole.

The Ministry of Industry and Trade has proposed the Government consider policies to tighten exports of steel products to stabilise the domestic market amid soaring steel prices in recent months.

VOV.VN - Domestic retail petrol prices rose by between VND370 - 438 per litre from 3 p.m. on May 12 following the latest adjustments made by both the Ministry of Industry and Trade along with the Ministry of Finance.

Several construction firms have reported a drop in profits in the first quarter of this year due to the COVID-19 pandemic and rising material prices.

The Ministry of Finance (MoF)'s Price Management Department will actively set up scenarios for managing prices of essential goods according to the market performance, but still ensuring inflation control as targeted, said director of the department Nguyen Anh Tuan.

While the expansion of the consumer price index (CPI), seen as a gauge for inflation, remained under control, growing prices of input materials and heating up economic activities are factors that could increase inflationary pressure on the remaining months of the year.

Vietnamese manufacturers and exporters are struggling to cope with rising material prices despite posting high export volumes in the first four months of the year.

The real estate market has begun cooling down after a long hot spell.

The Vietnam Oil and Gas Group (PetroVietnam) enjoyed impressive production and business results in the first four months of 2021, thanks to its efforts to address bottlenecks to stimulate production and improve governance, besides an increase in oil prices.