Solutions to stabilize consumer prices in the last months of the year

Mr. Nguyen Manh Quyen, Vice Chairman of Hanoi People's Committee, said that the city is implementing many solutions to stabilize prices for the market, especially preparing enough goods, not allowing scarcity or sudden price increases in all items, especially during Christmas, New Year and Lunar New Year 2025.

The city organizes trade fairs and exhibitions to create many playgrounds for businesses and manufacturers to cooperate in investment and promote production, business and product consumption.

In the context of the global and domestic economy facing many challenges, the development and stabilization of the consumer price index (CPI) in Hanoi in the last months of 2024 has become an urgent and important task. To achieve this goal, the Hanoi People's Committee has also applied synchronous and effective solutions to implement in the last months of the year.

The city government has strengthened its direction and closely monitored relevant departments and sectors to closely monitor price developments, especially for essential goods such as food, gasoline, electricity and water. Price control will be carried out through many measures such as regular inspections and checks and strict handling of violations.

To ensure an abundant supply of goods, the city is also researching and issuing policies to encourage businesses to produce and process food and consumer goods. At the same time, it is supporting cooperatives and cooperative groups in developing clean agricultural production and food safety to increase supply to the market.

The city directed the Department of Industry and Trade to provide full and timely information on prices and supply of goods to consumers and businesses. This not only helps consumers make better choices but also creates conditions for businesses to adjust their production and business plans accordingly.

The City People's Committee has implemented promotional and discount programs for domestically produced goods to stimulate consumption. At the same time, it has organized fairs and exhibitions to introduce domestic products so that people have the opportunity to access and choose Vietnamese goods.

The city also increased communication about price stabilization policies and support programs for people in the context of rising prices. This not only helps people better understand the economic situation but also creates consensus in society.

With synchronous and drastic solutions, Hanoi expects to control CPI well, ensure stable people's lives in the last months of 2024, contributing to the sustainable development of the capital.

The Hanoi Statistics Office has just announced that the capital's consumer price index (CPI) in October 2024 increased by 0.28% over the previous month, increased by 2.24% over December 2023 and increased by 2.20% over the same period last year.

The average CPI for the first 10 months of this year increased by 4.61% compared to the average for the same period in 2023. In October, 9/11 CPI groups increased compared to the previous month, such as: food and catering services; food prices; eating out; transportation; beverages; tobacco; clothing, hats, footwear; culture, entertainment, tourism; goods and services.

The remaining CPI groups increased slightly, such as: housing, electricity, water, fuel, construction materials; education; medicine and medical services. In addition, 2/11 CPI groups decreased compared to the previous month: Post and telecommunications group decreased by 0.19%. Household equipment and appliances group decreased slightly by 0.01%.

On average, in the first 10 months of 2024, CPI increased by 4.61% compared to the same period last year; in which, 10/11 commodity groups had an average CPI increase: the education group increased by 20.98% (causing the average CPI for the first 10 months of this year to increase by 1.66%) because in the first 3 months of 2024, public schools in Hanoi applied tuition fees according to Resolution 03/2023/NQ-HDND dated July 4, 2023 of the City People's Council, at the same time, some private schools also applied increased tuition fees in the 2023-2024 school year.

The housing, electricity, water, fuel and construction materials group increased by 6.04% due to a 28.36% increase in clean water prices; electricity prices increased by 7.8% over the same period due to two increases in electricity prices in May and November 2023; rental prices increased by 8.38%. Medicines and medical services increased by 5.05%; food and catering services increased by 3.4% due to a 10.97% increase in food prices; food increased by 2.6%; eating out increased by 2.74%...

In addition, the gold price index in October increased by 6.26% compared to the previous month, by 35.45% compared to December 2023 and by 46.59% compared to the same period last year. On average, in the first 10 months of 2024, the gold price index increased by 31.39% compared to the average in the same period in 2023. The USD price index in October increased by 0.8% compared to the previous month, by 2.55% compared to December 2023 and by 1.9% compared to the same period last year. On average, in the first 10 months of 2024, the US dollar price index increased by 5.02% compared to the average in the same period in 2023.

According to VNA

Source: https://doanhnghiepvn.vn/kinh-te/cac-giai-phap-binh-on-gia-tieu-dung-nhung-thang-cuoi-nam-/20241105115540196