Price management greatly contributes to inflation control: Deputy PM

Deputy Prime Minister Le Minh Khai addresses the meeting (Photo: VNA)

Hanoi (VNA) – Inflation has so far beencontrolled in line with the set target, and the macro-economic situation stabilised with major balances of the economy ensured, Deputy PrimeMinister Le Minh Khai said at the year-end meeting of the Price ManagementSteering Committee on December 28.

The official called this a great success,attributing it to the effective price management solutions.

He said that one of the important factors contributing tothe completion of price management goal is the close coordination between theMinistry of Finance and other ministries through the Price Management SteeringCommittee, with helpful advice provided to the Government in major policies andorientations in price management in particular periods.

Right from the beginning of the year, various macro-economic measures were rolled out, including those to ensure the supply of necessities and inputmaterials for production, along with effective petrol price management and theadjustments of tax policies to ease price pressure, he said.

An overview of the meeting (Photo: VNA)

Deputy PM Khai noted that in the first 11 months of 2022, thecountry’s average consumer price index (CPI) rose 3.02% year on year, while the CPI in the whole year is estimate to rise 3.1-3.2% over2021, which is within the range set by the National Assembly.

At the same time, he also pointed to a number of shortcomings in pricemanagement activities in 2022, including the overlapping among legalregulations and the Price Law, a lack of management tools to settle arisingissues, and ineffective price analysis and forecast in some cases./.

VNA