According to the statistics, the CPI in January-September already increased by 3.14% from December 2015.
Besides core inflation of 1.81 percent, the CPI rise is mainly affected by the prices of medicine, health and education services, food and food stuff.
According to the Ministry of Planning and Investment’s report, the CPI for the first nine months of this year rose 2.07 percent year-on- year and 3.14 percent from December 2015, mainly driven by the adjustment of prices of medical and educational services under the Government’s policy of align the prices in line with market rules.
Unfavourable weather changes and a raise in minimum wage are also factors to CPI growth.
Speaking at the meeting of the National Steering Committee on Price Management in Hanoi on October 19, Deputy Prime Minister (PM) Vuong Dinh Hue required ministries and relevant agencies to keep the growth of consumer price index under five percent in the year-end months of this year.
The adjustment of medical services prices should be careful calculated to control inflation, according to the Deputy PM.
Hue added that in the remaining months of 2016, the prices of foodstuff tend to increase, and accelerated public investment may affect inflation, so the task of keeping CPI rise under five percent will require strict management.
Deputy PM Hue stressed that the price of health services for people who do not have health insurance should not be raised in 2016.
He also asked ministries to carefully consider the timing and roadmap for health services price increase next year.
In addition, the Ministry of Industry and Trade was required to remain stable electricity’s retail price in the last three months of this year, and effectively managing the prices of other products such as sugar, oil and petroleum.
The Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development are instructed to direct departments and localities to stock up sufficient supply of goods for domestic market, especially on Tet holiday and Christmas Day.
The Ministry of Transport in conjunction with the Ministry of Finance will work to reduce fees for 10 build-operation-transfer (BOT) stations in October 2016.
Deputy PM Hue also directed the State Bank of Vietnam (SBV) to continuously stabilise the core inflation at between 1.81-2 percent, implement necessary measures to maintain and partly reduce lending interest. The SBV should direct the capital flow into priority fields and keep good control of credit growth and structure, he added.
Besides core inflation of 1.81 percent, the CPI rise is mainly affected by the prices of medicine, health and education services, food and food stuff.
According to the Ministry of Planning and Investment’s report, the CPI for the first nine months of this year rose 2.07 percent year-on- year and 3.14 percent from December 2015, mainly driven by the adjustment of prices of medical and educational services under the Government’s policy of align the prices in line with market rules.
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Speaking at the meeting of the National Steering Committee on Price Management in Hanoi on October 19, Deputy Prime Minister (PM) Vuong Dinh Hue required ministries and relevant agencies to keep the growth of consumer price index under five percent in the year-end months of this year.
The adjustment of medical services prices should be careful calculated to control inflation, according to the Deputy PM.
Hue added that in the remaining months of 2016, the prices of foodstuff tend to increase, and accelerated public investment may affect inflation, so the task of keeping CPI rise under five percent will require strict management.
Deputy PM Hue stressed that the price of health services for people who do not have health insurance should not be raised in 2016.
He also asked ministries to carefully consider the timing and roadmap for health services price increase next year.
In addition, the Ministry of Industry and Trade was required to remain stable electricity’s retail price in the last three months of this year, and effectively managing the prices of other products such as sugar, oil and petroleum.
The Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development are instructed to direct departments and localities to stock up sufficient supply of goods for domestic market, especially on Tet holiday and Christmas Day.
The Ministry of Transport in conjunction with the Ministry of Finance will work to reduce fees for 10 build-operation-transfer (BOT) stations in October 2016.
Deputy PM Hue also directed the State Bank of Vietnam (SBV) to continuously stabilise the core inflation at between 1.81-2 percent, implement necessary measures to maintain and partly reduce lending interest. The SBV should direct the capital flow into priority fields and keep good control of credit growth and structure, he added.
