Appropriate measures directed in order to avert inflation hikes

The Vietnamese government has directed authorised agencies to monitor domestic market price movements to curb any inflation hike, amid big rises in prices of fuel and production inputs.

- By Khoi Nguyen

The Government Office last week issued a notice conveying the conclusions of Deputy Prime Minister Ho Duc Phoc, head of the Price Management Steering Committee, at the committee's meeting early this month. According to the notice, escalating military conflicts and unpredictable changes in US tariff policies could result in volatile fluctuations in the prices of certain strategic commodities, which in turn may affect domestic price levels.

“Domestic demand for electricity, materials, and raw inputs for production, business, and consumption is expected to increase. Coupled with the complex fluctuations of the global economy, this could exert certain pressures on the domestic consumer price index (CPI),” read the notice.