There are many tools and the necessary space to control inflation below 4% this year, said Deputy Prime Minister Vuong Dinh Hue at the meeting of the Government's Steering Committee on Price Management held in Hanoi on July 10.


Deputy PM Vuong Dinh Hue speaks at the meeting (photo: VGP)

According to the Deputy PM, the consumer price index (CPI) for June increased by 0.61% over the previous month, mainly attributed to a hike in the price of pork, was not extraordinary.

Moreover, the rise of 0.61% is within the forecast by the Steering Committee on Price Management, the Government official noted.

He affirmed that the CPI increase in June was driven by higher prices of pork and transport services, saying that excluding the short-term factor of pork prices, inflation in June was only 0.27%, the lowest level in many years.

Average CPI in the January-June period went up by 3.29% compared to the same period last year, putting pressure on the target of keeping the average CPI for 2018 below 4% as set by the National Assembly. It will be a big challenge for the Government, Hue noted.

However, the Government will take all necessary measures until the end of this year to restrict average inflation to below 4% to contribute to macro-economic stability, he affirmed.

At the meeting, the Deputy PM also asked the Ministry of Agriculture and Rural Development to put forth directions for the management of pork prices in the remaining months of the year.

It is also advisable to calculate the supply and demand of food and essential goods for the last six months of this year as about 10 typhoons are forecast to hit Vietnam during this period.

 

                                                                                                Source: NDO

Related Topics


Hoa Binh: outstanding products selected for OCOP programme in 2018-2020 period

(HBO) - Hoa Binh is the first locality in Vietnam to launch the "One Commune, One Product” (OCOP) programme in the period of 2018-2020 under Decision No. 490 / QD-TTg dated on May 7, 2018 by the Prime Minister. This is both challenge and opportunity for the province to consolidate its internal strength and promote economic development in rural areas, thus creating impetus to the implementation of the national target programme on building new-style rural areas in the 2016-2020 period.

Ngoc My commune develops the conical hat making occupation

(HBO) - Over the past years, the authorities of Ngoc My commune (Tan Lac) have deployed many effective production models, creating jobs for laborers, helping to alleviate hunger, reduce poverty and raise their incomes. In particular, the conical hat making occupation have developed well and brought the significant revenue to many families.

Hoa Binh attends agricultural achievement exhibition in Hanoi

(HBO) – The provincial Department of Agriculture and Rural Development on November 27 attended an exhibition in Hanoi on achievements after ten years implementing the Resolution No.26-NQ-TW on agriculture, farmers and rural areas adopted at the 10th Party Central Committee’s 7th plenum.

Vietnam's Information Security Index revealed

The 2018 Information Security Index of Vietnam was 45.6 percent, a figure at average level, reported by Vietnam Information Security Association (VNISA) in Hanoi on November 30.

Vietnam Business Forum to convene year-end session on December 4: VCCI

The year-end session of the Vietnam Business Forum will convene in Hanoi on December 4, according to the Vietnam Chamber of Commerce and Industry (VCCI).

Da Nang city attracts Japanese enterprises

The central city of Da Nang always appreciates the contributions of Japanese enterprises to its socio-economic achievements in 30 years attracting foreign direct investment (FDI) into Vietnam.