CPI to be curbed at 3.3-3.9% in 2019

Deputy Prime Minister Vuong Dinh Hue chaired a working session with the National Steering Committee on Price Management on March 28, to assess price and market developments in the first quarter of 2019 and discuss measures to regulate prices in the remaining months of the year in accordance with the targets set by the National Assembly.

Deputy Prime Minister Vuong Dinh Hue speaking at the working session (Photo: VGP)
Deputy Prime Minister Vuong Dinh Hue speaking at the working session (Photo: VGP)

Deputy PM Hue, who is also head of the National Steering Committee on Price Management, said that the control of inflation at 3.3-3.9% in 2019 is within reach as the committee will actively monitor the market situation and coordinate closely with ministries and sectors in order to calculate and regulate the prices of public goods, medical services and education following market signals.

The Deputy PM also asked the Ministry of Agriculture and Rural Development to prevent the spread of African swine fever and take measures to repopulate swine herds to ensure the supply of pork after the disease is controlled. He noted that the State Bank will provide credit support for affected livestock households.

Meanwhile, the Ministry of Industry and Trade was directed to coordinate with the Ministry of Finance to grasp information on global oil price movements to work out plans to operate domestic petrol and oil prices, while continuing to boost the transparency of input costs of electricity prices and the results of electricity production and business.

The Government official also urged the Health Ministry to expand the list of national centralised bidding for the procurement of medicines and medical supplies in order to lower prices and supply quality drugs.

According to the report of the Steering Committee, the national CPI decreased by 0.21% in March compared to the same period last year and the average CPI in the first quarter rose by 2.63% over the same period last year, the lowest level over the past three years.