Official points out risks to CPI during year’s end
Illustrative image (Photo: VNA)
Though inflation was under control in the past eight months, the economy still poses risk to the consumer price index (CPI) in the remaining months of this year and next year, said Director General of the General Statistics Office of Vietnam (GSO) Nguyen Thi Huong.
In an interview recently granted to Vietnam News Agency, Huong said amid inflation in many countries worldwide due to the prolonged Russia-Ukraine conflict, the COVID-19 pandemic and disrupted supply chain, the Vietnamese Government took drastic measures to reduce petrol prices, stabilise electricity and water prices and tuition fees, and maintain reasonable interest rates. As a result, inflation was kept at 2.58% in eight months of this year, easing pressure on input costs.
The Government, ministries and agencies directed localities to manage prices while a number of firms actively joined the price stabilisation programme to ensure the supply of necessities to people, especially food.
Illustrative image (Photo: VNA)
Pointing out risks that could potentially impact CPI during the remainder of this year and next year, Huong said the global material prices remain high which could push up prices of consumer products at home, thus exerting pressure on inflation.
The fuel prices are also likely to hike again due to the complicated Russia-Ukraine conflict and rising demand for energy in China when its economy is recovering from the pandemic.
At the same time, the supply of fertilisers and cereals used for animal feed production is falling, potentially leading to an increase in food prices.
Meanwhile, consumption demand is expected to rebound, especially tourism, entertainment and dining, she said.
According to her, the GSO suggested ministries, agencies and localities fully prepare for food and necessities to meet public demand.
The Ministry of Agriculture and Rural Development must ensure the supply of pork, particularly during year’s end while the Ministry of Industry and Trade and localities must stabilise its prices.
The supply of fuel at home must also be guaranteed and the reduction of value added and special consumption taxes should be considered in case the global fuel prices bounce back.
The GSO also proposed boosting the production of other important input materials such as iron and steel, construction materials and animal feed.
The State Bank of Vietnam (SBV) was advised to continue directing an active and flexible monetary policy and combine with fiscal and macro-economic policies to control inflation and ensure the supply of capital to the economy, she said./.
Related News
![Vietnam and Japan promote cooperation](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/29/10/img-4133jfif2024082815273820240829104455.jpg?rt=20240829104458?240830073006)
Vietnam and Japan promote cooperation
19:30 | 30/08/2024 Finance
![Close cooperation between Vietnam and the EU in sustainable development](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/23/14/croped/a8715b7a13f3b7adeee22024082115134820240823145747.jpg?240824072649)
Close cooperation between Vietnam and the EU in sustainable development
19:26 | 24/08/2024 Import-Export
![Green energy goals still face many challenges](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/20/10/32024081219552520240820103657.jpg?rt=20240820103711?240823093358)
Green energy goals still face many challenges
09:33 | 23/08/2024 Headlines
![EU proposes to change maximum residue levels in many agricultural products of Vietnam](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/15/15/croped/10-sau2023122715163120240815151301.jpg?240820093057)
EU proposes to change maximum residue levels in many agricultural products of Vietnam
09:30 | 20/08/2024 Import-Export
Latest News
![Eco-industrial parks vital to achieving net zero emission target by 2050](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/07/18/croped/namcaukieu-974420240907182735.9617940.jpg?240907062824)
Eco-industrial parks vital to achieving net zero emission target by 2050
18:28 | 07/09/2024 Headlines
![PM urges pushing up growth in 2024, 2025 with priority solutions](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/07/18/croped/pm-262220240907182600.3753200.jpg?240907062630)
PM urges pushing up growth in 2024, 2025 with priority solutions
18:26 | 07/09/2024 Headlines
![Vietnam attracts foreign investors thanks to its stability: Russian official](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/06/14/croped/hinh-anh-79420240906141711.7865050.jpg?240906021755)
Vietnam attracts foreign investors thanks to its stability: Russian official
14:17 | 06/09/2024 Headlines
![August CPI stays stable compared to previous month](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/06/14/croped/august-cpi-stays-stable-compared-to-previous-month-59620240906141438.6085100.jpg?240906021508)
August CPI stays stable compared to previous month
14:15 | 06/09/2024 Headlines
More News
![Co-branded cards open doors for Vietnamese business to enter global market](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/05/16/croped/370771-visadth-605720240905161100.0212200.jpg?240905041123)
Co-branded cards open doors for Vietnamese business to enter global market
16:11 | 05/09/2024 Headlines
![For sustainable development of cross-border e-commerce](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/30/16/16-thay2024082311242720240830160423.jpg?rt=20240830160426?240904024344)
For sustainable development of cross-border e-commerce
14:43 | 04/09/2024 Headlines
![Tourism sector serves about 3 million visitors during National Day holidays](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/04/14/croped/vna-potal-ca-nuoc-don-3-trieu-luot-khach-dip-nghi-le-quoc-khanh-29-7571465-662320240904142228.0840630.jpg?240904022317)
Tourism sector serves about 3 million visitors during National Day holidays
14:23 | 04/09/2024 Headlines
![What to do to mobilize investment resources for green transport?](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/30/14/croped/1307-259431148-941994990050898-3054124825542113726-n20240830144546.jpg?240904083134)
What to do to mobilize investment resources for green transport?
08:31 | 04/09/2024 Headlines
![Economic growth models innovation an essential step for sustainable development: Experts](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/03/19/croped/370945-4940438393653901-article-962520240903194304.0368050.jpg?240903074325)
Economic growth models innovation an essential step for sustainable development: Experts
19:43 | 03/09/2024 Headlines
![Russian newspaper highlights value of Vietnam "bamboo diplomacy" policy](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/03/19/croped/17250702784168-194420240903194117.6781020.jpg?240903074140)
Russian newspaper highlights value of Vietnam "bamboo diplomacy" policy
19:41 | 03/09/2024 Headlines
![Becoming a green hydrogen exporter: Vietnam can elevate its economic position](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/29/15/croped/5-dr-majo-george-900x59920240822130226202408261338502024082620192620240829155044.jpg?240903093111)
Becoming a green hydrogen exporter: Vietnam can elevate its economic position
09:31 | 03/09/2024 Headlines
![Ho Chi Minh City stimulates consumption](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/082024/29/10/croped/19-12024081520103120240829104057.jpg?240903092834)
Ho Chi Minh City stimulates consumption
09:28 | 03/09/2024 Headlines
![Vietnamese firms urged to quickly adapt to EU Deforestation Regulation](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/02/19/croped/dong-phu-rubber-plantation-929720240902190427.8805960.jpg?240902070456)
Vietnamese firms urged to quickly adapt to EU Deforestation Regulation
19:04 | 02/09/2024 Headlines
Your care
![Eco-industrial parks vital to achieving net zero emission target by 2050](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/07/18/croped/medium/namcaukieu-974420240907182735.9617940.jpg?240907062824)
Eco-industrial parks vital to achieving net zero emission target by 2050
18:28 | 07/09/2024 Headlines
![PM urges pushing up growth in 2024, 2025 with priority solutions](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/07/18/croped/medium/pm-262220240907182600.3753200.jpg?240907062630)
PM urges pushing up growth in 2024, 2025 with priority solutions
18:26 | 07/09/2024 Headlines
![Vietnam attracts foreign investors thanks to its stability: Russian official](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/06/14/croped/medium/hinh-anh-79420240906141711.7865050.jpg?240906021755)
Vietnam attracts foreign investors thanks to its stability: Russian official
14:17 | 06/09/2024 Headlines
![August CPI stays stable compared to previous month](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/06/14/croped/medium/august-cpi-stays-stable-compared-to-previous-month-59620240906141438.6085100.jpg?240906021508)
August CPI stays stable compared to previous month
14:15 | 06/09/2024 Headlines
![Co-branded cards open doors for Vietnamese business to enter global market](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/092024/05/16/croped/medium/370771-visadth-605720240905161100.0212200.jpg?240905041123)
Co-branded cards open doors for Vietnamese business to enter global market
16:11 | 05/09/2024 Headlines