Control false information about prices causing market instability

	The State only intervenes to regulate and manage in specific conditions
	Law on Prices (revised) adopted, regulations on ceiling prices for domestic air services remain

Control inflation expects to limit information that voice concern for consumers. Photo: H.D

HCM City National Assembly delegation has sent proposals of voters about the increase in market prices before the wages grow. The National Assembly delegation of Thua Thien Hue also expressed voters' opinions on the fact that the price of petroleum products decreases, but the price of some essential goods and services has not yet reduced.

Therefore, voters proposed to implement comprehensively solutions to strengthen inspection to stabilize prices and ensure people's lives.

Responding to these recommendations of voters, the Ministry of Finance said that the country implement the policy of price management under the market principle with the regulation of the State. Prices of commodities are generally formed under market mechanism; organizations and individuals that produce and trade in the above products have the right to self-determine their prices and are responsible for the results of their production and business activities.

The State respects the right to self-assess and compete on prices of production and business organizations and individuals in accordance with law.

The State only indirectly manage the formation and development of prices by taking macroeconomic measures and using price stabilization measures when the prices of goods and services show abnormal fluctuation or the price level fluctuates, affecting socio-economic stability.

According to the Ministry of Finance, in the first months of 2023, the inflation has been under control, the market of essential commodities has not seen abnormal fluctuations, the supply is maintained, and commodity prices are stable.

The increase of the basic salary for nine subject groups from July 1, the Ministry said that it is meaningful and necessary to promptly support employees the pandemic, in line with the people's aspirations and the country's socio-economic situation. The increase also contributes to the overall economic development of the country, and promoting economic development.

"The assessment of the impact on CPI of the base salary increase has been included in the price management scenario of the Price Management Steering Committee," the Ministry of Finance's document stated.

In the last months of the year, to stabilize market prices from now until the end of the year, especially for the information on base salary increase, the Ministry of Finance said that it will coordinate with ministries and sectors to advise the Prime Minister, Deputy Prime Minister-Head of the Prime Minister's Steering Committee for Price Management, solutions and measures to respond to challenges in price management in the near future to achieve the goal of inflation control together with macroeconomic stability, strictly control prices and handle violations, and there need the coordination of the Market Surveillance Department and localities in this work.

The Ministry of Finance said that it is necessary to strengthen close supervision of market price fluctuations, advise on appropriate and flexible management policies and scenarios for goods, especially essential goods and services that have a great impact on the price level.

Ministries, sectors and localities should prepare well plans to control the prices of goods determined by the State, carefully assess the impact to make adjustments or submit them to competent authorities for consideration and decision on the adjustment in line with the reality.

At the same time, strengthen the effective implementation and supervision of the implementation of price declaration and listing measures; publicize information on prices; inspect the compliance the law on price, promptly detect and remove shortcomings, and strictly handle violations.

The Ministry of Finance said that it is necessary to strengthen the dissemination, transparency and truthfulness of price information to control inflation; and to limit false information causing concern to consumers, causing market instability.