The Deputy Prime Minister outlined the direction for price management at the end of the year.

The Government Office issued Notice No. 687 dated December 12th, summarizing the conclusions of Deputy Prime Minister Ho Duc Phoc - Head of the Steering Committee for Price Management - at the Steering Committee meeting on the results of price management and control work for the first 10 months and the orientation for price management work in the remaining months.

The Deputy Prime Minister noted that, in the remaining months of the year, the global economy is expected to continue to evolve rapidly and complexly, leading to unpredictable fluctuations in the prices of some strategic commodities.

Accordingly, ministries, sectors, and localities need to continue focusing on effective price management and control to control inflation according to targets and support sustainable economic development, contributing to promoting production and business activities, improving people's living standards, and strengthening investor confidence. A synchronized approach should be implemented to control inflation according to a scenario with an increase of approximately 3.3% compared to 2024.

Ministries, sectors, and localities, according to their assigned functions and tasks, should proactively and effectively implement the tasks and solutions set forth in the Government's Resolutions and the directives of the Prime Minister and Deputy Prime Ministers.

In this context, ministries, sectors, and localities should proactively monitor closely the price fluctuations of strategic commodities in the international market, as well as global economic developments and inflation impacts on Vietnam, in order to promptly warn of potential risks affecting domestic price levels.

The relevant units promptly implemented, within their authority, or proposed to competent authorities appropriate solutions and response scenarios, improved customs clearance mechanisms, and implemented suitable tax policies to support businesses in their production and business activities.

Phó Thủ tướng nêu định hướng điều hành giá cuối năm - 1 — Prime Minister Ho Duc Phoc (Photo: National Assembly).

In addition, it is necessary to closely monitor price fluctuations in the domestic market, especially for essential consumer goods and services and important input materials for production; proactively and flexibly implement measures to regulate supply and demand and stabilize the market to ensure production, meet social needs, prevent shortages and price spikes, and ensure social security.

The balance between supply and demand for essential goods such as food, fuel, electricity, raw materials for production, and the real estate market needs to continue to be ensured.

Local authorities are proactively developing plans and stockpiling goods to meet the increased consumer demand during the Tet holiday. They are also urgently addressing flooding issues and promptly supplying goods to support people in areas affected by storms and floods.

The Deputy Prime Minister requested that ministries, sectors, and localities coordinate with statistical agencies to carefully assess the impact of price adjustments on the consumer price index for goods under their management, in order to implement adjustments within their authority. This aims to avoid major disruptions to the overall price level and significant impacts on people's lives, while ensuring the goal of controlling inflation.

Ministries and agencies shall develop price management plans for 2026 for goods under their management and report them to the Price Management Steering Committee to proactively manage prices for the following year.

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